Which of the following programs to alleviate poverty would be most favored by philosopher Robert Nozick?
a. a negative income tax
b. an Earned Income Tax Credit (EITC)
c. an in-kind transfer program
d. None of the programs would be favored by Nozick.
d
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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
Drexel Burnham Lambert pioneered the widespread issuance of
A) junk bonds. B) commercial paper. C) callable bonds. D) convertible bonds.
The aggregate supply curve is downward sloping because buyers tend to purchase more of all goods and services as the price level decreases
a. True b. False Indicate whether the statement is true or false
Which of the following best explains how an economy could simultaneously experience high inflation and high unemployment?
A) The government increases spending without increasing taxes B) The government increase taxes without increasing spending C) Inflationary expectations decline D) Women and teenagers stay out of the labor force E) Negative supply shocks cause factor prices to increase