Supply-side economists:
a. saw influence beyond in both the Bush and Clinton administrations.
b. disagreed with economist Arthur Laffer's views on taxes.
c. were influential in President Reagan's decision to change the tax structure.
d. believe that government regulations do not reduce productivity and undermine industrial efficiency.
c
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The aggregate demand curve tells us the equilibrium level of real GDP corresponding to any price level
a. True b. False
Recall the Application about the incentives to install rooftop solar panels to answer the following question(s).According to the Application, a 10 percent increase in the tax credits for solar panels results in an increase in the number of households that install solar panels by 7.6 percent. The increase in sales due to this subsidy is an example of which element of the economic way of thinking?
A. responding to incentives B. isolating variables C. thinking at the margin D. using assumptions to simplify