It is generally true that elected officials find it easier to:
A. raise taxes and cut government spending.
B. cut government spending.
C. cut taxes.
D. raise both taxes and government spending.
Answer: C
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Supply-side economic policies are designed to shift the aggregate supply curve to the left, whereas Keynesian economic policies focus on shifting the aggregate demand curve to the right during recessions and to the left during economic expansions
a. True b. False Indicate whether the statement is true or false
Timmy can edit 2 pages in one minute and he can type 80 words in one minute. Olivia can edit 1 page in one minute and she can type 100 words in one minute. Timmy has an absolute advantage and a comparative advantage in editing, while Olivia has an absolute advantage and a comparative advantage in typing
a. True b. False Indicate whether the statement is true or false
When a dog is guarding the henhouse, that is an example of the
A) share-the-gains, share-the-pains theory. B) regulatory hypothesis. C) capture hypothesis. D) creative theory.
The willingness of consumers to buy a product at different prices is shown on a
A) demand curve. B) supply curve. C) production possibilities frontier. D) marginal cost curve.