According to supply-side economics, changes in marginal tax rates will have which of the following effects?
A) change the incentive to work
B) change the incentive to save
C) change the incentive to invest
D) all of the above
D
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Because of assortative mating, wealth becomes ________ and the distribution of wealth becomes more ________
A) more concentrated in a small number of families; equal B) more concentrated in a small number of families; unequal C) spread out among more families; equal D) spread out among more families; unequal
Marginal social cost is equal to
a. total private cost b. marginal private cost c. marginal external cost d. marginal private cost plus marginal external cost e. marginal private cost divided by marginal external cost
If you look at a graph depicting fluctuations in the U.S. economy (a record of its sequential business cycles), many of its peaks or prosperity phases seem to be associated with
a. economic, social, and political stability as well as peace b. low unemployment and low prices c. high unemployment and low prices d. periods of military engagement e. less government involvement in the economy
The industrial North wanted the _______ to buy their goods rather than import goods from ________ so they erected ____________ tariffs.
Fill in the blank(s) with the appropriate word(s).