Supply-side economic policies seek to
A) raise interest rates through contractionary monetary policy.
B) increase federal government expenditures.
C) increase consumption expenditures by increasing taxes.
D) increase saving and investment using tax incentives.
D
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You paid $35 for a ticket (which is non-refundable) to see SPAM, a local rock band, in concert on Saturday. Assume that $35 is the most you would have been willing to pay for a ticket. Your boss called, and she is looking for someone to cover a shift on Saturday at the same time as the concert. You would have to work 4 hours and she would pay you $11/hr. The psychic cost to you of working is $2/hr. What is the opportunity cost of going to the concert?
A. $35 B. $36 C. $9 D. $1
What is the policy trilemma?
What will be an ideal response?
When price was 6, quantity demanded was 10. When price decreased to 5, quantity demanded increased to 13. Therefore, when price decreased, total revenue
A. decreased from 65 to 60, indicating that demand is inelastic. B. increased from 60 to 65, indicating that demand is inelastic. C. decreased from 65 to 60, indicating that demand is elastic. D. increased from 60 to 65, indicating that demand is elastic.
The term market mechanism refers to
A. The use of market prices and sales to determine resource allocation. B. Supply curves but not demand curves. C. The establishment of a ceiling price in a market. D. Government laws and regulations concerning how the market should operate.