The Bush tax cuts
a. reduced tax rates for the upper brackets and increased tax rates for lower income taxpayers.
b. reduced tax rates for the upper brackets and held constant tax rates for lower income taxpayers.
c. reduced tax rates for the upper brackets and decreased tax rates for lower income taxpayers.
d. held constant tax rates for the upper brackets and decreased tax rates for lower income taxpayers.
e. Increased tax rates for the upper brackets and decreased tax rates for lower income taxpayers.
c
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According to your authors, the "Great Recession" that began in 2008 is evidence of
A) an unstable free market system. B) rampant greed among entrepreneurs. C) a cluster or accumulation of errors. D) antagonistic interests among the propertied and nonpropertied classes. E) all of the above.
A monopolistically competitive firm will end up selling its output for a price such that its
A) price is greater than marginal cost. B) price is equal to marginal cost. C) price is equal to marginal revenue. D) price is equal to average total cost.
The average person spends _________ of waking hours in some form of communication
a. 10 b. 20 c. 70 d. 90
The chain store paradox of an incumbent who accommodates a finite stream of potential entrants threatening to enter sequentially numerous markets illustrates
a. backwards induction b. the unraveling problem c. subgame perfect equilibrium d. best reply responses e. all of the above