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Chris M.
Chris M., M.S.W. Social Work
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28) If personal taxes were decreased and resource productivity

Resolved Question:

28) If personal taxes were decreased and resource productivity increased simultaneously, the equilibrium:

A. price level would necessarily fall.
B. output would fall.
C. price level would necessarily rise.
D. output would rise.



29) Inflation is undesirable because it:

A. usually is accompanied by declining real GDP.
B. invariably leads to hyperinflation.
C. reduces everyone's standard of living.
D. arbitrarily redistributes real income and wealth.



30) The industries or sectors of the economy in which business cycle fluctuations tend to affect output the most are:

A. clothing and education.
B. services and nondurable consumer goods.
C. capital goods and durable consumer goods.
D. military goods and capital goods.



31) Real GDP measures:

A. base year output at current prices.
B. current output at base year prices.
C. base year output at current exchange rates.
D. current output at current prices.
Submitted: 5 years ago.
Category: Homework
Expert:  Kathy replied 5 years ago.

28- D. output would rise.
29-D. arbitrarily redistributes real income and wealth.
30-C. capital goods and durable consumer goods.

31-B. current output at base year prices.

Kathy, Teacher
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Expert:  Chris M. replied 5 years ago.
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Chris M., M.S.W. Social Work
Category: Homework
Satisfied Customers: 2786
Experience: Master's Degree, strong math and writing skills, experience in one-on-one tutoring (college English)
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