The concept that economic growth can do more than just give us more goods and services goes back to Adam Smith
Indicate whether the statement is true or false
True
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If slope = -2 for a line on a graph with x on the horizontal axis and y on the vertical axis, then if
a. x increases by 4, y increases by 8 b. x increases by 4, y increases by 2 c. y increases by 4, x increases by 8 d. x = 4, y = 8 e. x increases by 4, y decreases by 8
Figure 4-11 Refer to. On the Laffer curve shown, which of the following is true?
a. Tax revenue would increase if marginal tax rates were lowered from point C.
b. Tax revenue would decrease if marginal tax rates were lowered from point A.
c. Tax revenues are maximized at a tax rate corresponding to point B.
d. All of the above are true.
Monetarists believe that real output is determined by
A. aggregate supply. B. government planning. C. the rate of growth of the money supply. D. government spending.
Other things equal, which of the following would shift an economy's production possibilities curve to the left?
A. The discovery of a low-cost means of generating and storing solar energy. B. The entrance of more women into the labor force. C. A law requiring mandatory retirement from the labor force at age 55. D. An increase in the proportion of total output that consists of capital or investment goods.