"Reducing taxes increases incentives to work and save.". This view is typically associated with
a. Keynesian economics.
b."Reagonomics.".
c. Johnson's "Great Society" policies.
d. the Carter administration.
b. "Reagonomics.".
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According to this Application, if you earn a salary of $40,000 in the first year and all prices triple in the next 10 years, what will your nominal annual salary be in 10 years?
A) $20,000 B) $60,000 C) $120,000 D) $180,000
If a country faces action under Section 301 of the U.S. Trade Act of 1974, it means that the country has
A) exceeded average import growth by more than 301 percent. B) exceeded average export growth by more than 301 percent. C) tariffs that are above 301 percent. D) been charged by the United States with systematically engaging in unfair trade practices. E) been charged by the WTO with violating its trade obligations.
Halifax & Smyth (H&S) is a clothier that specializes in expensive men's suits, and the firm makes the suits from wool fabrics that are woven by one of the firm's divisions
This division is not the only source for this material, and H&S could buy or sell wool fabric in the outside competitive market. H&S will buy some of the wool fabric that it needs for suits from the outside market if the: A) market price is less than the optimal transfer price if the outside market did not exist. B) market price is less than the point where the net marginal revenue of weaving wool fabric intersects the marginal cost of wool fabric. C) market price is less than the point where the net marginal revenue of assembling men's suits intersects the marginal cost of assembly. D) Both A and B are correct.
You decide to donate $5 to Jerry's Kids at the grocery store checkout, and get to sign your name to a shamrock and hang it in their window. This is an example of the economic concept of:
A. marginal utility. B. altruism. C. reciprocity. D. selfishness.