Supporters of supply side economics believe that
a. government should be used as a tool to increase demand for goods
b. demand for goods increases when prices rise
c. taxes have a strong negative influence on economic output
d. tax cuts have little impact on worker productivity
Ans: c. taxes have a strong negative influence on economic output
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Use the following information to answer the next question.C = A + .875(Y - T)A = $10,000I = $2,000G = $2,500T = $1,000NX = $1,025What will be the change in consumption if net exports decrease by $250?
A. Consumption will not change. B. Consumption will fall by $1,750. C. Consumption will rise by $218.75. D. Consumption will fall by $250.
A $100 bill is a
A) commodity money. B) fiat money. C) representative commodity money. D) partially representative commodity money.
Why does the industry short-run supply curve slope upward?
What will be an ideal response?
A typical firm in the US economy would he classified as
a. Perfectly competitive. b. Imperfectly competitive. c. A duopolist d. An oligopolist