The relationship between the price level and the real Gross ...

[Jkov05]

The relationship between the price level and the real Gross Domestic Product (GDP) without full adjustment or full information is represented by
 
  A) the distance between the long-run aggregate supply curve and the short-run aggregate supply curve.
  B) the short-run aggregate supply curve.
  C) the long-run aggregate supply curve.
  D) the aggregate demand curve.

Question 2

At tax rates higher than the tax rate that maximizes tax revenues along a Laffer curve
 
  A) an increase in tax rates increases tax revenues.
  B) any variation in tax rates has no effect on tax revenues.
  C) a reduction in tax rates increases tax revenues.
  D) a reduction in tax rates reduces tax revenues.

[Sammyo]

Answer to Question 1

B

Answer to Question 2

C

[Jkov05]

YES! Correct, THANKS for helping me on my review

[Joy Chen]

Thanks for the timely response, appreciate it