The sharp reduction in marginal tax rates during the 1980s
a. reduced the incentive of high-income Americans to work.
b. increased the incentive of high-income Americans to utilize tax shelters.
c. increased the unemployment rate of high-income Americans.
d. increased the visible income of high-income Americans.
D
You might also like to view...
The American Recovery and Reinvestment Act of 2009 was introduced in the hope of:
A. reducing government spending. B. achieving a balanced budget. C. providing healthcare to the uninsured. D. shortening the Great Recession.
Which of the following presidents attempted to expand employment during the Great Depression through increased public spending?
A. Harry Truman B. Franklin Delano Roosevelt C. Calvin Coolidge D. Herbert Hoover
If the economy is on its short-run Phillips curve at the natural unemployment rate, then in the AS-AD model, real GDP is definitely
A) decreasing. B) greater than potential GDP. C) less than potential GDP. D) increasing. E) equal to potential GDP.
Health care costs have been rising due to
A) an aging population. B) new technologies. C) third-party financing. D) All of the above are correct.