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Author Question: Last year the Olsen family earned 70,000 . This year their income is 77,000 . In an economy with an ... (Read 87 times)

cartlidgeashley

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on: Jun 30, 2018
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


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CAPTAINAMERICA

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

False


cartlidgeashley

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

duy1981999

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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