In the above table, which tax plan is proportional?
A) only plan A
B) only plan B
C) only plan C
D) both plan A and plan C
A
Economics
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If a contractionary monetary policy is adopted, ________
A) the real interest rate will fall B) real output will increase C) the price level will fall D) the demand for labor will increase
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The political incentive structure tends to
a. encourage a balanced budget regardless of economic conditions. b. discourage budget deficits during recessions. c. encourage budget surpluses during both recessions and expansions. d. encourage budget deficits during both recessions and expansions.
Economics