A cut in marginal tax rates would:
a. increase the price level and real GDP in the short run if it has no effect on short-run aggregate supply
b. increase the price level and real GDP in the short run, even if possible aggregate supply effects are included.
c. increase real GDP in the short run, but there is an indeterminate effect on the price level if there is no supply-side effect on aggregate supply.
d. increase real GDP in the short run, but there is an indeterminate effect on the price level if supply-side effects on aggregate supply are included.
d
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The above table shows answers given by people interviewed in a government survey of households. Which individuals are considered to be a part of the labor force?
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________ in the money supply creates excess demand for ________, causing interest rates to ________, everything else held constant
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Compared to high skilled workers, low skill workers are more
What will be an ideal response?