Judging from their statements, which of the following people is most likely to support supply-side economic policies?
a. Savana, who says government should increase corporate taxes to make the rich pay their fair share
b. Leonardo, who says the government should spend more money to finance social welfare programs
c. Brenda, who says government should ease its oversight of most types of businesses
d. Octavio, who says the government should tax capital gains at regular income rates
c. Brenda, who says government should ease its oversight of most types of businesses
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A university conducts a survey of students, which shows that a 10 percent tuition hike would lead to a 12 percent decrease in the enrollment
If the university wants to increase its total revenue, it should ________ tuition because the demand for education at this university is ________. A) raise; elastic B) not raise; elastic C) raise; inelastic D) not raise; inelastic
What is the AA-curve? Why does it have a negative slope? What factors cause it to shift?
What will be an ideal response?
Isocost lines
A) represent the combinations of inputs that have the same marginal cost. B) represent the combinations of inputs that have the same total cost. C) are the inverse of the isoquant lines. D) represent supply and demand for inputs at a given cost.
Which of the following represents a good example of an oligopoly?
A) the agriculture industry B) a public utility C) the automobile industry D) the restaurant industry