Most changes in tax laws tend to be small changes because _____
a. the organizing costs of large coalitions are too high
b. logrolling is easier when tax laws effect only a small number of individuals
c. special interests are constantly demanding changes that will benefit them
d. of the rules of the Senate
c
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One explanation for the slope of the aggregate demand curve is that: a. nominal income falls and so does the demand for goods and services as prices rise
b. falling prices make people feel poorer and reduce spending. c. the government spends less to drive the price level back to normal as prices rise. d. businesses increase spending when inflation is high and rising. e. domestic goods become more expensive relative to foreign goods when prices rise, reducing exports.
A perfect competitor will operate at peak efficiency only in the ___________.
Fill in the blank(s) with the appropriate word(s).