Supply-side economics
A) promotes increasing taxes to create additional revenue for government spending.
B) promotes expansionary fiscal policy by increasing government spending.
C) is based on the Ricardian equivalence theorem.
D) promotes reducing taxes to create incentives to increase productivity.
D
Economics
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The increase in the demand for widgets, shown in the figure above, is the result of an increase in people's incomes from $28,500 per year to $31,500 per year. Therefore, the income elasticity of demand for widgets is
A) 0.25. B) 0.75. C) 1.33. D) 4.00.
Economics
The figure above shows the market for umbrellas in Sunville. When the market for umbrellas in Sunville is in equilibrium, what is the consumer surplus?
A) $30 B) $9,000 C) $18,000 D) $16,000
Economics