Other things the same, an increase in the price level induces less spending on
a. investment and net exports

The more elastic the supply curve, _____

a. the greater the tax evasion b. the more suppliers have to bear the tax burden c. the more suppliers can shift the tax burden to demanders d. the more demanders shift the supply curve

Which of the following is true?

a. GDP is a "flow" concept. b. The purchase prices of both intermediate goods and final goods are included in GDP. c. GDP measures economic welfare. d. GDP is a measure of changes in the general level of prices.