President Nixon once proclaimed that he followed the __________ school of economics.

"The theory's predictions are consistent with what I believe, so now I have good reason to believe what the theory says." This statement is likely to have been made by a person who believes that

A) theories should be tested by gathering and analyzing data. B) theories are descriptive of reality. C) theories should be falsifiable or refutable. D) b and c E) none of the above

Which of the following statements is TRUE of static tax analysis?

A. A government cannot change it tax revenues by changing the tax rate. B. A government receives lower tax revenues by raising the tax rate. C. A change in the tax rate can raise or lower tax revenues, depending on other factors. D. A government receives higher tax revenues by raising the tax rate.