Why might population growth and immigration stimulate economic growth?
What will be an ideal response?
Faster population growth means the pool of innovators is larger, and innovation leads to more growth. Further, immigrants tend to be entrepreneurial and help stimulate innovation and growth.
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The idea that people change their behavior in response to taxes is
A. highly controversial among economists. B. accepted by economists, but debated by those in Congress. C. uncontroversial among economists. D. None of these statements is true.
At each level of income, net taxes reduce disposable income, thereby reducing consumption spending
a. True b. False
The government could close an inflationary gap by increasing government spending by some amount greater than taxes
Indicate whether the statement is true or false
This graph shows elasticity of demand because the distance between Q1 and Q2 is ______ the distance between P1 and P2.
a. greater than
b. less than
c. the same as
d. irrelevant to