An Increase in Output Will Tend to

question 40

Multiple Choice

An increase in output will tend to

• A) increase productivity in the economy as a whole
• B) reduce prices of non-labor inputs and other commodities in limited supply in the short run
• C) increase real wage rates
• D) increase nominal wage rates
• E) decrease the price level.

---

Definitions:

Influences

Forces or factors that affect the actions, behavior, opinions, or development of someone or something.

Schedule A

Schedule A is a tax form used for reporting itemized deductions on an individual's federal income tax return, allowing taxpayers to list deductible expenses such as medical and dental expenses, taxes paid, and interest paid.

Itemized Deduction

Tax deductions that allow taxpayers to list each deductible expense they qualify for, potentially reducing taxable income.

Sales Taxes

Taxes imposed on the sale of goods and services, typically collected by retailers at the point of sale and remitted to the tax authority.