Belgium, according to economists, is in a recession when its
a. real GDP declines for at least three months
b. real GDP declines for at least nine months
c. nominal GDP declines for at least nine months
d. real GDP declines for at least six months
e. nominal GDP declines for at least six months
D
Economics
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Other things equal, a decrease in the personal income tax rate will ________ disposable income, which leads to ________ in output and employment
A) increase; an increase B) increase; a decrease C) decrease; an increase D) decrease; a decrease
Economics
Refer to the diagram. At the profit-maximizing level of output, total revenue will be:
A. NM times 0M.
B. 0AJE.
C. 0EGC.
D. 0EHB.
Economics