The experience of the 1930s indicates that substantial tax increases during a severe recession will result in
What will be an ideal response?
a reduction in output and employment.
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Education is an integral part of economic growth
Indicate whether the statement is true or false
An increase in subway fares in New York City will boost your expenditures on subway rides if
A) the supply of subway rides is elastic. B) the supply of subway rides is inelastic. C) your demand for subway rides is elastic. D) your demand for subway rides is inelastic.
Unemployment related to job search is known as ________
A) cyclical unemployment B) frictional unemployment C) structural unemployment D) tertiary unemployment
How much the quantity of a good traded changes after a shift of the supply curve depends on
a. the size of the shift. b. the slope of the demand curve. c. whether the market is subject to price controls. d. All of the above are correct.