Supply-side theories of the business cycle focus on how improper incentives lead to the unwillingness of producers to supply more goods and services at existing prices.
Answer the following statement true (T) or false (F)
True
Supply-side theory focuses on lowering taxes and improving infrastructure to boost supply.
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One disadvantage of the gold standard was that no nation had control of its domestic monetary policies.
Answer the following statement true (T) or false (F)
In economics, another term for satisfaction is
A) scarcity. B) need. C) utility. D) return.
In Figure 29.1, the area that represents the total variable cost to producers under perfect competition is
A. OFCQPC. B. OPPCCQPC. C. OPmonopolyBQmonopoly. D. OFEQmonopoly.
If the MPC equals 0.75, then
A) for every $100 increase in consumption, real Gross Domestic Product (GDP) increases by $75. B) for every $100 increase in real Gross Domestic Product (GDP), saving increases by $25. C) consumption is always more than real Gross Domestic Product (GDP). D) for every $100 increase in real Gross Domestic Product (GDP), saving increases by $75.