The heart of the supply-side economic program was to
A. raise taxes.
B. lower taxes.
C. raise government spending.
D. put people to work in government jobs.
B. lower taxes.
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Use the figure below to answer the following question.
What area represents consumer surplus after the government imposes the excise tax on the market?
A. square $13ac$9 B. triangle $21a$13 C. triangle abc D. triangle $1c$9
A bank's net interest margin is
A) total interest income minus total interest expense. B) net interest income as a percent of bank equity. C) net interest income as a percent of total bank assets. D) net interest as a percent of total income.
Real wages in the United States in the long run:
A. show no discernible relationship to output per worker. B. have increased at about the same rate as increases in output per worker. C. have increased slower than increases in output per worker. D. have increased faster than increases in output per worker.
The short run is defined as the time frame:
A. in which there are fixed factors of production. B. less than one year. C. less than three years. D. in which there are no fixed factors of production.