The Laffer curve shows the relationship between tax
a. revenue and tax rates
b. revenue and take-home pay
c. revenue and government spending
d. rates and take-home pay
e. rates and government spending
A
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Country A has a higher money supply growth rate and a long-run Phillips curve that is farther to the left than country B's. In the long run as compared to country B, country A will have
a. lower unemployment and higher inflation b. higher unemployment and higher inflation c. lower unemployment and lower inflation d. None of the above is necessarily correct.
Economists would most likely use which of the following to test a hypothesis?
a. using an exact control of variables to determine buying preferences b. observing human behavior in a laboratory setting c. using surveys to ask people about their buying preferences d. observing human behavior in a retail store