If a supply-side economist were to make a suggestion to stimulate economic activity, which of the following policies would she NOT suggest?
A. A repeal of employer-mandated benefits
B. An elimination of the corporate income tax
C. A repeal of regulations on business
D. An increase in the minimum wage
Answer: D
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For a tax to be successful, the tax base must be ¬¬¬_____
a. easy to measure and monitor b. large c. inelastic d. able to expand in times of crisis
If a society only cares about efficiency and not equity, then
A) all points on the contract curve yield the same level of social welfare. B) it will not rely on competitive markets to allocate goods. C) it will maximize the utility of its worst-off member. D) an equitable outcome is impossible.
Critics of the U.S. definition of poverty claim that:
A. it is set too low, because of higher food prices relative to essential goods and services. B. it is set too high, because of lower food prices relative to essential goods and services. C. it is set too low, because of lower food prices relative to essential goods and services. D. it is set too high, because of higher food prices relative to essential goods and services.
Within the aggregate demand/aggregate supply framework, what does the quantity produced and purchased in the goods and services market represent?
What will be an ideal response?