If the GDP price index rises from 100 to 110 to 115 over three consecutive years, it can be concluded that the inflation rate is decreasing.
a. True
b. False
Indicate whether the statement is true or false
Question 2
The federal budget is:
a. submitted by Congress to the President and contains proposals for tax increases.
b. submitted by Congress to the President and contains proposals for government expenditures.
c. always in balance, with receipts equal to expenditures.
d. equal to government purchases plus cash and in-kind transfer payments.
e. usually planned for the calendar year, which starts from January.
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