The tax cut of 2001 turned out to be well-timed because it caused a
A. rightward shift of the aggregate demand curve.
B. rightward shift of the aggregate supply curve.
C. leftward shift of the aggregate demand curve.
D. leftward shift of the aggregate supply curve.
Answer: A
Economics
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As income increases, consumption increases too, but not as rapidly. This is a statement of the:
A. Production function. B. Consumption function. C. Substitution effect. D. Income effect. E. Wealth effect.
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For the world, what period of time experienced the fastest growth rate of real GDP per person?
A) between 1000 A.D. and 1500 A.D. B) around 500 B.C. C) after about 1850 A.D. D) around 400 A.D. E) between 1500 A.D. and 1850 A.D.
Economics