Supply-side economists believe that changes in government purchases affect
a. only aggregate demand.
b. only aggregate supply.
c. both aggregate demand and aggregate supply.
d. neither aggregate demand nor aggregate supply.
c
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The New Deal was carried out during the administration of President
A. Herbert Hoover. B. Franklin Roosevelt. C. Harry Truman. D. Dwight Eisenhower.
The price effect refers to how changes in
A) price affect real income. B) price affect the quantity of a good consumed. C) income affect prices. D) preference affect prices.
Most economists assume that the goal of elected officials is to promote the public interest
a. True b. False
Business executives are more honest that other groups because
A) they serve customers. B) they serve the market. C) they are regulated. D) because they want to earn accounting profits.