Inflation is defined as an increase in: a. real wages of ...

[KWilfred]

Inflation is defined as an increase in:
 a. real wages of workers.
  b. real GDP.
  c. the average price level.
  d. all consumer products.

Question 2

Income tax collections:
 a. fall during periods of prosperity, thus increase federal budget deficits.
  b. rise during periods of prosperity, thus reduce federal budget deficits.
  c. fall during recessions, thus increase the problem of unemployment.
  d. rise during recessions, thus increase the problem of unemployment.

[vseab]

Answer to Question 1

c

Answer to Question 2

b

[KWilfred]

Thanks for the timely response, appreciate it

[ghepp]

Excellent