According to classical theory, any changes in aggregate demand will
A) have no affect on prices or real Gross Domestic Product (GDP).
B) lead to changes in both real Gross Domestic Product (GDP) and the price level.
C) lead to changes in the price level.
D) lead to changes in real Gross Domestic Product (GDP), but not in the price level.
C
Economics
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Consider the same monopoly situation as in the previous question. The deadweight loss (compared to a single firm behaving as if it were perfectly competitive) is about
a. 667 b. 333 c. 1,000 d. 1,333
Economics
If Sophia's tax liability increases from $10,000 to $15,000 when her income increases from $30,000 to $40,000, her marginal tax rate is
a. 33 percent. b. 35 percent. c. 50 percent. d. 60 percent.
Economics