According to the information in the table shown, if someone were earning $20,000 in Mexico, approximately what would he need to earn in the United States to enjoy the same amount of goods and services?

A $10 million increase in government spending has the same economic impact as a $10 million tax cut

a. True b. False Indicate whether the statement is true or false

Suppose that the Fed implements expansionary monetary policy that raises aggregate demand, but individuals incorrectly anticipate the policy measure (bias downward). According to new classical theory, in the short run the price level would ____________ and Real GDP would ______________. In the long run, new classical theory would predict that the price level would ___________compared to its

original long-run equilibrium level and that Real GDP would ____________. A) rise; decline; rise; remain unchanged B) rise; rise; rise; remain unchanged C) rise; decline; remain unchanged; rise D) fall; rise; remain unchanged; rise