Assuming an upward-sloping aggregate supply curve, when aggregate demand decreases, unemployment
A. Increases, and the price level decreases.
B. Increases, and the price level increases.
C. Decreases, and the price level decreases.
D. Decreases, and the price level increases.
Answer: A
Economics
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Explain how changes in relative income affect the value of a nation’s currency.
What will be an ideal response?
Economics
Refer to the information provided in Table 19.8 below to answer the question(s) that follow.Table 19.8Total IncomeTotal Taxes$20,000 $2,000 40,000 4,800 60,000 9,000 80,000 16,000Related to the Economics in Practice on page 393: Refer to Table 19.8. At an income level of $60,000, the average tax rate is
A. 1.5%. B. 6.67%. C. 15%. D. 22.5%.
Economics