Assuming the economy is starting at the natural rate of output and everything else held constant, the effect of ________ in aggregate ________ is a rise in both inflation and output in the short-run,
but in the long-run the only effect is a rise in inflation.
A) a decrease; supply
B) a decrease; demand
C) an increase; supply
D) an increase; demand
D
Economics
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The Laffer Curve only applies to income taxes
a. True b. False
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If the cost per unit of output for a particular product is $50 and the product sells for $55, what is the percentage markup over cost per unit?
a. 200 percent b. 10 percent c. 100 percent d. 20 percent e. 50 percent
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