If a currency decreases in value in response to market forces, this process is known as
a. devaluation.
b. depreciation.
c. deflation.
d. degeneration.
b
Economics
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According to supply-siders the main consequence of reducing tax rates is
A) increases aggregate demand and the price level. B) increases in aggregate supply. C) increases in aggregate supply and the price level. D) making the aggregate supply curve upward-sloping.
Economics
If income decreases and prices are unchanged, the consumer's budget constraint
a. remains the same. b. shifts outward. c. shifts inward. d. rotates outward along the horizontal axis.
Economics