The Laffer curve supports a basic contention of the ___________ school.
Fill in the blank(s) with the appropriate word(s).
supply-side
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Keynesians argue that the stabilizing effects of a fall in investment and the resulting decline in the price level assumed by the monetarists
A) will not happen because the price level will actually rise. B) will happen. C) is not likely to happen because the price level rarely ever falls. D) may or may not happen depending on what happens to interest rates.
If the employer is only permitted to hire members of the labor union, the workplace is called a(n)
a. closed shop b. collective shop c. agency shop d. union shop e. open shop
How does the price system cope with depletable resources?
Which of the following is true?
a. Specialization and trade leads to mutual gains for countries. b. Protectionism (i.e., policies that limit trade in certain goods) promotes both economic prosperity and greater employment. c. Countries that have a lot of resources, like the United States, are always hurt by trade. d. Countries will have a higher standard of living when they produce as many goods as possible domestically.