Gordon believes that the expansion which began in 1982 did so because of the
A) expansionary monetary policy which was pursued.
B) Reagan tax cuts, the passage of the Economic Recovery Act in 1981.
C) increases in consumer and business firm optimism concerning future business conditions.
D) A and B are both correct.
D
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Referring to the graph above, an economic variable that had peaked in December 1911, November 1914, and February 1919 is likely a ________ variable
A) leading countercyclical B) leading procyclical C) lagging countercyclical D) lagging procyclical E) none of the above
If you go into a bank which faces a 10% required reserve ratio and borrow $1,000, the bank will ____ your checking account at the bank
a. add $1,000 to b. subtract $1,000 from c. add $5,000 to d. subtract $5,000 from
A ____ rate of total savings will lead to a _____ rate of capital formation.
A. low; high B. low; low C. high; low D. the rate of savings does not affect the rate of capital formation.
In terms of gains from trade, why is it true that taxes cause deadweight losses?