Supply-siders' policy recommendations include:
A. lower tax rates, spending cuts, and increased government regulation.
B. lower tax rates, lower resource prices, and decreased government regulation.
C. lower tax rates, spending increases, and decreased government regulation.
D. higher tax rates, spending increases, and increased government regulation.
Answer: B
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Refer to Figure 18-7. The second highest 20 percent of households
A) earn 24 percent of the society's total income. B) earn 28 percent of the society's total income. C) earn 42 percent of the society's total income. D) earn 72 percent of the society's total income.
A production function in which the inputs are perfectly substitutable would have isoquants that are
A) convex to the origin. B) L-shaped. C) linear. D) concave to the origin.
Which one of the following events will leave GDP unchanged?
a. You pay $500 to repair your car damaged in an accident. b. You buy a new domestic car to replace one that was stolen. c. You lose $500 playing blackjack with friends. d. You work extra hours this month to help make up for the money you lost playing blackjack.
In the United States, consumers, businesses, governments, and foreigners participate in both the product and factor markets.
Answer the following statement true (T) or false (F)