A Keynesian economist would expect a supply-side tax cut to shift
a. only the aggregate supply curve outward.
b. only the aggregate demand curve outward.
c. both the aggregate demand and aggregate supply curves outward.
d. the aggregate supply curve outward and the aggregate demand curve inward.
b
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If the market demand for oranges is relatively inelastic with respect to price, orange consumers
A) pay no attention to price in their purchasing decisions. B) will buy fewer oranges at any higher price and will spend less money on oranges. C) will buy fewer oranges at any higher price but will spend more money on oranges. D) will buy more oranges at any higher price. E) will buy more oranges only if their incomes increase.
The __________ of the mentally ill over the last two and a half decades, without the promised halfway houses to treat and shelter them has added to the ________________.
Fill in the blank(s) with the appropriate word(s).
As the market wage increases:
a. the income effect normally influences you to work more. b. the income effect normally influences you to work less. c. the substitution effect normally influences you to work less. d. the substitution effect normally influences you to involve in nonmarket work.
The Profit & Loss Statement lists:
a. Assets and Expenses b. Assets and Liabilities c. Net Income and Owner's Equity d. Income and Expenses