Transfer payments have reduced poverty among the elderly, but poverty among females has not fallen
a. True
b. False
A
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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
To derive the labor market demand curve, the labor demand curves for each firm in the output market of interest are summed
Indicate whether the statement is true or false
President Bush lowered taxes on capital gains and dividends in 2003. Explain how this might increase aggregate supply
What will be an ideal response?
If total domestic savings exceeds domestic investment, then the country will:
a. run a trade surplus. b. borrow from abroad. c. have to float its exchange rate. d. a and b.