The view held by Arthur Laffer and Ronald Reagan that cuts in tax rates would encourage people to increase the quantity of labor they supplied became known as
a. California economics.
b. welfare economics.
c. supply-side economics.
d. elasticity economics.
c
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The Clayton Act:
A) was passed in 1985 over the objections of then President Reagan. B) outlaws racial discrimination in the practice of business. C) outlaws the ownership of stock by the U.S. government unless it is in public enterprises. D) outlaws price discrimination unless based on cost differences.
If average total cost is decreasing as more and more units are produced, then marginal cost must be
A) rising. B) constant. C) below average total cost. D) negative.
The aggregate demand curve would shift to the right if
A. the money supply were decreased. B. net taxes were decreased. C. the cost of energy were to increase. D. government spending were decreased.
On the "demand side" of a market, consumers indicate what they are willing to buy, in what quantity and at what price
Indicate whether the statement is true or false