Monetarists believe

A) Real GDP is not determined by M in the long run.
B) velocity is constant.
C) the SRAS curve is vertical.
D) a and c
E) a, b and c

A

Economics

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A supply curve shows the relationship between:

A) output and the total cost of production. B) output and prices. C) output and consumer income. D) output and revenue.

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Consider the country of Outland. In Outland, people pay 10 percent of their income as a tax whether they earn $10,000 or $100,000 annually. Outland has ________ tax structure

A) a progressive B) a regressive C) a proportional D) an excessive

Economics