It may seem paradoxical but according to ___________ when tax rates increase—at least beyond a certain rate—tax revenues fall and when tax rates fall, tax revenues increases
a. Professor Phillips and other neo-Keynesian economists
b. Professor Laffer and other supply-side economists
c. Professor Ricardo and other classical economists
d. Professor Barro and other rational expectations economists
e. Professor Samuelson and other Keynesian economists
B
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One thousand adults live in Milltown. Every day, they all leave work at 4:30 p.m., arrive home at exactly 5:00 p.m., and go to bed at 9:00 p.m. Three fundraisers, Alpha, Beta, and Charlie, have targeted Milltown's population. To get a donation, they must call Milltown's residents after they get home from work but before they go to bed. Because the charities raising the funds are identical, the first to call a willing donor will get the donation. Calls made by the fundraisers will tend to be:
A. clustered near 7:00 p.m. B. clustered near 6:00 p.m. C. clustered near 5:00 p.m. D. evenly distributed throughout the evening.
Most economists agree with which of the following?
A) Passive policymaking is likely to exert sizable long-run effects on real GDP. B) Active policymaking is likely to exert sizable long-run effects on real GDP. C) Active policymaking is unlikely to exert sizable long-run effects on real GDP. D) none of the above
Which form of business organization has the advantage of being a legal person in itself?
a. sole proprietorship b. partnership c. corporation d. oligopoly
For which of the following purchases would the absolute price elasticity of demand be smallest?
A. a house B. chewing gum C. a tablet D. a luxury sport utility vehicle