U.S. data suggest that the U.S. economy is located where on the Laffer curve?
A) On the right side, after the peak in tax revenue.
B) On the left side, before the peak in tax revenue.
C) At the peak in tax revenue.
D) The economy was on the right side before the 1980s and on the left side after 1980.
B
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Is the distribution of income across different countries in the world equitable? In other words, do all countries share the world's wealth equally?
What will be an ideal response?
People typically buy more of a product at low price than at a high price
a. true b. false
Answer the following statements true (T) or false (F)
1. The portion of the public debt owed to foreigners does not represent any real economic burden to Americans because we received money from foreigners when we incurred the debt. 2. The Social Security program is a retirement system where payments to retirees come from their previous contributions. 3. When Social Security contributions have exceeded payouts in the past, the excess amounts were used to help finance the Federal government's budget deficits. 4. The Medicare trust fund is expected, if current flows continue, to be depleted within a couple of decades.
Distinguish between a balance-of-payments surplus and a balance-of-payments deficit in terms of payments of official reserves.
What will be an ideal response?