Loopholes have the effect of
a. encouraging particular patterns of behavior and favoring particular types of people.
b. eroding the progressivity of the income tax.
c. altering the pattern of economic incentives.
d. All of the above are correct.
d
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The quantity theory of money states that in the long run
A) the price level will not consistently rise, it will fluctuate. B) an increase in the quantity of money results in an equal percentage increase in the price level. C) a rise in the price level rises causes the quantity of money to increase. D) an increase in the quantity of money increases real GDP by a smaller percentage.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point C to Point B, ________ additional LCD TVs could be produced when the production of OLED TVs is reduced by 20.
A. exactly 30 B. exactly 60 C. fewer than 30 D. more than 30