Which of the following historical events is often cited as an example of the successful implementation of Keynesian theory?
a. the Kennedy-Johnson tax cut of 1964
b. the price controls of the Nixon administration
c. the anti-inflation policies of the Carter administration
d. the series of tax cuts implemented by the Reagan administration during the 1980s
a. the Kennedy-Johnson tax cut of 1964
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The global financial crisis that started in 2008 has reestablished the continuing relevance of the IMF
Indicate whether the statement is true or false
If the government wants to decrease the quantity consumed of cigarettes 20%, what percentage of tax would they have to levy on cigarette consumption?
a. 20% b. 30% c. 40% d. 50%
Conducting expansionary monetary policy when the economy is at its long-run equilibrium causes the Phillips Curve to:
A. shift straight up. B. shift straight down. C. become less steep. D. become more steep.
This figure displays the choices and payoffs (company profits) of two music shops-MiiTunes and The Rock Shop. MiiTunes is an established business in the area deciding whether to charge its usual high prices or to charge very low prices, in the hopes that a new business will not be able to make a profit at such low prices. The Rock Shop is trying to decide whether or not it should enter the market and compete with MiiTunes.If MiiTunes and The Rock Shop are both in the music business and faced with the choices outlined in the figure, we can predict the outcome will be that:
A. there is more than one stable outcome to this game. B. MiiTunes charges high prices and The Rock Shop does not enter. C. there is no stable outcome to this game. D. None of these statements is true.