Each of the following was considered a proponent of supply-side economics EXCEPT
A. Arthur Laffer.
B. Ronald Reagan.
C. Congressman Jack Kemp.
D. Milton Friedman.
D. Milton Friedman.
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Assume that a company is producing at a point beyond where diminishing returns has already set in. If the firm cuts back on production what would you expect should happen to the marginal product of labor and why?
What will be an ideal response?
Market power allows firms to raise prices significantly above the competitive level
a. True b. False Indicate whether the statement is true or false
A decrease in the tariff on foreign-produced automobiles would be most likely to harm
a. steel producers, who supply steel to the domestic automobile industry. b. foreign producers of automobiles. c. importers of automobiles. d. domestic distributors of foreign automobiles.
Exhibit 1A-5 Straight line
In Exhibit 1A-5, the slope for straight line CD is:
A. 5. B. 1. C. ?1. D. ?5.