This topic contains a solution. Click here to go to the answer

Author Question: Last year the Olsen family earned 70,000 . This year their income is 77,000 . In an economy with an ... (Read 88 times)

cartlidgeashley

  • Hero Member
  • *****
  • Posts: 572
Last year the Olsen family earned 70,000 . This year their income is 77,000 . In an economy with an inflation rate of 8 percent, we can conclude that the Olsen's nominal income:
 a. and real income both increased.
  b. and real income both decreased.
  c. increased, but their real income decreased.
  d. decreased, but their real income increased.

Question 2

A simultaneous 10 million increase in both taxes and government spending will have no net effect on aggregate demand.
 a. True
  b. False
  Indicate whether the statement is true or false



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

CAPTAINAMERICA

  • Sr. Member
  • ****
  • Posts: 325
Answer to Question 1

a

Answer to Question 2

False




cartlidgeashley

  • Member
  • Posts: 572
Reply 2 on: Jun 30, 2018
Wow, this really help


kilada

  • Member
  • Posts: 311
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

For a complete list of videos, visit our video library