Answer the following statement(s) true (T) or false (F)

1. Classical economic theorists argue that tax cuts and other incentives for investors and businesses at the top will lead to economic benefits for those at the bottom.
2. Supply-side economies believe in zero government intervention to implement policies.
3. Classical economic theory draws on free market ideas.
4. The gross domestic product (GDP) is the nation’s total production of goods and services for a single year.
5. Federal budget processes did not exist before the Budget and Accounting Act of 1921.


1. False
2. False
3. True
4. True
5. True

Political Science

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