A country is said to be experiencing deflation when
A) prices of most goods and services are rising over time.
B) prices of most goods and services are falling over time.
C) total output is rising over time.
D) total output is falling over time.
B
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A trigger strategy can be used in
A) a single-play game or a repeated game. B) a single-play game but not a repeated game. C) a repeated game but not a single-play game. D) neither a single-play game nor a repeated game.
If all fixed taxes in the United States were removed and only variable taxes remained, what would be the effect on the expenditures schedule?
A. The expenditure schedule will shift upward. B. The expenditure schedule will shift downward. C. The expenditure schedule will become flatter. D. The expenditure schedule will become steeper.