A local newspaper headline states "Congress Votes Against President's Proposed Tax Increase." An economist would interpret the statement as
A) a sad event, because all economists favor tax cuts.
B) uninteresting, because all economists favor theories instead of reality.
C) a purely political issue not related to economics.
D) a shorthand way of saying, "More individuals in Congress voted against the tax cut compared to the number of individuals who voted in favor of the tax cut."
D
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Analysis indicates that the economy is in a recessionary gap. Which of the following is the least appropriate policy mix in this situation?
a. a budget surplus and expansionary monetary policy b. a budget deficit and expansionary monetary policy c. a budget deficit and contractionary monetary policy d. a budget surplus and contractionary monetary policy
The effects of rent control in the long run include lower rents and lower-quality housing
a. True b. False Indicate whether the statement is true or false
Refer to the following table to answer the question. Supply shown by the table is:PriceQuantity Demanded$6.0080$8.0090$10.00100$12.00110$14.00120
A. unit elastic. B. elastic. C. inelastic. D. changing as price changes.
Which of the following are common barriers to entry?
A) economies of scale B) absolute unit-cost advantages C) capital access and costs D) all of the above