Over a period of time, a nation's GDP increases by 3 percent at constant prices and by 5 percent at current prices. Other things being equal, the price level changed by about:

A firm's profit can be calculated by subtracting its total revenue from its total costs

a. True b. False Indicate whether the statement is true or false

If a tax is progressive, then:

A. The average and marginal tax rates are always equal B. As the tax base increases, the marginal tax rate declines C. As the tax base rises, the average tax rate is greater than the marginal tax rate D. As the tax base increases, the marginal tax rate is greater than the average tax rate