The main reason that the 1975, 2008, and 2009 tax cuts did not have a large effect on GDP is that they were
a. temporary surcharges rather than permanent surcharges.
b. permanent surcharges rather than temporary surcharges.
c. temporary tax cuts rather than a permanent tax cuts.
d. permanent tax cuts rather than a temporary tax cuts.
c
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The Gini coefficient is measured by
A) summing up the total income earned by the population and dividing by the size of the population. B) summing up the cumulative income percentages on the Lorenz curve. C) using the formula: area between the line of perfect equality and the Lorenz curve ÷ the area under the line of perfect equality. D) using the formula: area between perfect inequality and Lorenz curve ÷ area between the line of perfect equality to the Lorenz curve.
The law of increasing opportunity costs implies that: a. a production possibilities curve will be bowed inward toward the origin
b. a production possibilities curve will be bowed outward away from the origin. c. a production possibilities curve will be a straight line. d. a production possibilities curve will be upward sloping.