While in office, President Obama discussed raising income taxes for individuals earning over $250,000 in income. Explain how these higher income taxes would affect the aggregate demand curve
What will be an ideal response?
Raising the income tax decreases the amount of disposable income available to those households. Lower disposable income decreases consumption at every price level. The result is a shift in the aggregate demand curve to the left.
Economics
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How do we derive the short-run market supply curve in perfect competition?
What will be an ideal response?
Economics
A tit-for-tat strategy, in a repeated game, is one in which a player starts by cooperating and then does whatever the other player did last time
a. True b. False Indicate whether the statement is true or false
Economics