Supply-side policy suggests that if we _______ taxes of workers, the _________ labor will increase, causing equilibrium wages to ________
a. raise, supply of, decrease
b. cut, supply of, increase
c. raise, demand for, increase
d. cut, supply of, decrease
d
You might also like to view...
Refer to Figure 7-1. Suppose the government allows imports of leather footwear into the United States. The market price falls to $24. What area represents consumer surplus?
A) R + S B) V + W + X + Y C) R + S + V D) R + S + T + U
Adam Smith identified all of the following as factors contributing to a nation's economic growth, except
a. size of the labor force b. degree of labor specialization (or division of labor) c. size of the capital stock d. level of technology e. the level of government spending
Answer the question based on the following price and output data over a five-year period for an economy that produces only one good. Assume that year 2 is the base year.YearUnits of OutputPrice Per Unit18$22103315441855206In determining real GDP for year 1:
A. the price index number in year 1 is 95. B. the price index number in year 1 will be greater than 100. C. nominal GDP in years 1 and 2 should be deflated. D. nominal GDP in year 1 should be inflated.
Economists usually favor a return to the gold standard
Indicate whether the statement is true or false