If the price of inputs rises and personal income taxes rise:
a. Price index falls, and real GDP rises.
b. Price index falls, and real GDP falls.
c. Price index falls, and the change in real GDP is uncertain.
d. The change in price index is uncertain, and real GDP rises.
e. The change in price index is uncertain, and real GDP falls.
.E
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The ratio of the dollar price of a toy in the U.S. to the dollar price of a toy in China represents the ________ between the two currencies
A) nominal exchange rate B) ordinal exchange rate C) expected exchange rate D) real exchange rate
When the real interest rate rises, there is
A) neither a shift of the consumption function nor a movement along the consumption function. B) a downward shift of the consumption function. C) a downward movement along the consumption function. D) an upward shift of the consumption function. E) an upward movement along the consumption function.