Refer to the graph below. Critics of supply-side economics would argue that tax rates are currently between:
A. b and d and that a decrease in tax rates will decrease tax revenues
B. 0 and b and that a decrease in tax rates will decrease tax revenues
C. 0 and b and that a decrease in tax rates will increase tax revenues
D. b and d and that a decrease in tax rates will increase tax revenues
B. 0 and b and that a decrease in tax rates will decrease tax revenues
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Schooling is subsidized in the United States in part
A) so that the golden rule capital level can be reached. B) because otherwise people would not get educated. C) because there is a constitutional right to education. D) because there is a positive externality from schooling.
To test joint linear hypotheses in the multiple regression model, you need to
A) compare the sums of squared residuals from the restricted and unrestricted model. B) use the heteroskedasticity-robust F-statistic. C) use several t-statistics and perform tests using the standard normal distribution. D) compare the adjusted R2 for the model which imposes the restrictions, and the unrestricted model.
If a nation's terms of trade rises from 95 to 106, then we can conclude
a. the gains from international trade are reduced b. the ratio of export to import prices must have decreased c. its imports have become relatively cheaper compared to its exports d. its purchasing power is now lower than before e. that 106 is impossible because the terms of trade cannot exceed 100
In 2008 if the poverty line had been set higher, the poverty rate would have been _______.
Fill in the blank(s) with the appropriate word(s).