Macroeconomics Questions
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The study of the decision-making process of government is the study of
a tax is structured so that the people with the same income pay the same % on their income in taxes is called a
The benefits-recieved principle of taxation is most evident in
To compare the purchasing power of nominal wages in two different years, one must:
Refer to the figure above. Assume the market is originally at point W. Movement to point Z is a combination of
Economists adjust for inflation using the GDP deflator
The GDP deflator for subsequent years measures the changes in nominal GDP from the base year that cannot be attributable to a change in real GDP
The Sticky-Price Theory: Suppose the Fed increases the money supply unexpectedly. What will happen in the long run?
Commodity money depends on universal acceptance
Deflation can be defined as a general increase in the value of money
Getting a college degree is an example of investing in:
Nominal GDP and real GDP must be the same in the base year
Which of the following is not a Classical tenet for the economy?
Investment is a(n) ___ that changes the ____ of capital
The central bank can influence the economy only in the short run
Because of the circular flows of expenditure and income in the economy, total ________ equals total ________ equals total ________.
The GDP deflator for the base year always equals 100
Any change in the economy that alters the natural level of output...
The rule of 70 says that with inflation of 10% per annum prices will double in about 7 years
The rate of return that financial investors require to hold a risky asset minus the rate of return on a safe asset is called the: