The graph plotting the tax rate on the horizontal axis and tax revenues on the vertical axis, which was used by supply-side economists to suggest that tax rates were too high, in known as the
A) Beveridge curve.
B) Phillips curve.
C) Taylor rule.
D) Laffer curve.
D
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According to purchasing power parity, a rise in inflation in the United States. relative to the rest of the world will lead to
A) a balance of payments surplus. B) a balance of payments deficit. C) an exchange rate appreciation. D) an exchange rate depreciation.
An IOU held by a bank, and signed by a customer is a liability
a. True b. False Indicate whether the statement is true or false
Which of the following events will lead to a decrease in the demand for money?
(a) An increase in the level of aggregate output; (b) A decrease in the supply of money; (c) A decrease in the interest rate; (d) A decrease in the price level.
Why is there NO persistent unemployment in the classical model?
A. The rate of economic growth is always high enough to allow those who want to work at current wages to find jobs. B. Unionization creates job security for workers. C. The wage level adjusts to eliminate unemployment. D. The interest rate adjusts to eliminate unemployment.