In general, developed countries depend more heavily on indirect taxes on goods and services than do developing countries

A graph shows the wage rate of factory workers. The slope of the line is positive for periods when the wage rate is

A) low and falling. B) high and not changing. C) rising. D) high and falling. E) falling.

Economic growth in India has averaged about 8.5 percent in recent years and while inflation averaged almost 9 percent. The AS-AD model shows this process as

A) rightward shifts in the short-run aggregate supply curve. B) rightward shifts in the both the aggregate demand and long-run aggregate supply curves. C) movements upward along the aggregate demand curve. D) rightward shifts in the aggregate demand curve and leftward shifts in the short-run aggregate supply curve.