Supply-side economists argue cuts in tax rates
A. can raise tax revenues.
B. always reduce tax revenues.
C. only lead to reductions in government spending.
D. always increase budget deficits.
Answer: A
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Many developing countries were once under colonial rule, a system of government that:?
Consider the following T-account for a bank:
Assets Liabilities Reserves $1,000 Deposits $5,000 Loans $4,000 If the required reserve ratio is 20 percent and the bank is holding no excess reserves, the bank at this point can make no more loans.
Kate and Alice are small-town ready-mix concrete duopolists. The market demand function is Qd = 20,000 - 200P where P is the price of a cubic yard of concrete and Qd is the number of cubic yards demanded per year. Marginal cost is $80 per cubic yard. Suppose Kate enters the market first and chooses her output before Alice. What is Alice's profit?
A. $10,000 B. $5,000 C. $20,000 D. $15,000
The commercial air travel industry and the wireless service industry illustrate which type of market structure?
a. Oligopoly b. Natural monopoly c. Duopoly d. Perfect competition