An increase in the budget deficit is the result of: A) Expansionary monetary policy;B) Contractionary monetary policy;C) Expansionary fiscal policy;D) Contractionary fiscal policy. Company tax is a: (a) Progressive, direct tax;(b) Progressive, indirect tax;(c) Proportional direct tax;(d) Regressive indirect tax. In the base year, a country produced 50 units of output at a price of R6,00 each for a nominal GDP of R300. This year it produces 60 units of output at a price of R8,00 each. What is the percentage change in real GDP since the base year?(a) 5%;(b) 10%;(c) 20%;(d) 15%.

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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An increase in the budget deficit is the result of:

A) Expansionary monetary policy;

B) Contractionary monetary policy;

C) Expansionary fiscal policy;

D) Contractionary fiscal policy.

Company tax is a:

(a) Progressive, direct tax;

(b) Progressive, indirect tax;

(d) Regressive indirect tax.

In the base year, a country produced 50 units of output at a price of R6,00 each for a nominal GDP of R300. This year it produces 60 units of output at a price of R8,00 each. What is the percentage change in real GDP since the base year?

(a) 5%;

(b) 10%;

(d) 15%.

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