The tax cut of 1964 (proposed by President Kennedy):
a. was the last time fiscal policy was used
b. was the greatest failure as a demand-management tool.
c. actually increased investment, consumption, and employment.
d. shifted the aggregate demand curve leftward.
e. was the first time the focus moved away from managing aggregate demand to focusing exclusively on aggregate supply.
c
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Let P be the output price for a particular good. Why is the value P*MPL greater than MRPL for a monopolist?
A) The monopolist is not as technically efficient as firms operating under perfect competition. B) The monopolist hires less labor, so MPL is higher under a monopoly than under perfect competition. C) The monopolist sets a price that is higher than MR. D) A and C are correct. E) B and C are correct.
Threats to internal validity of quasi-experiments include
A) failure of randomization. B) failure to follow the treatment protocol. C) attrition. D) all of the above with some modifications from true randomized controlled experiments.