If the demand-side effects of supply-side tax cuts are greater than the supply-side effects, then we can expect the result to be a(n)
a. decrease in output and prices.
b. decrease in output and an increase in prices.
c. increase in output and prices.
d. increase in output and a decrease in prices.
c
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A ________ exists when naturally occurring incentives encourage sufficient numbers of people to act in a way that makes everybody worse off
Fill in the blank(s) with correct word
Data from the Bureau of Labor Statistics show that consumer spending on medical care is about equal to consumer spending on housing
a. True b. False Indicate whether the statement is true or false
Which is the most accurate statement?
A. The poverty of older Americans is much greater than the problem of child poverty. B. Public assistance has been considered a great success. C. Medicare and Medicaid date back to the New Deal of the 1930s. D. Less than half of those eligible receive food stamps.
Ceteris paribus, if the French decide they want to drink more Chinese-grown tea, this causes the ________ Chinese currency to ________.
A. supply of; decrease B. demand for; decrease C. demand for; increase D. supply of; increase