The idea that a tax cut will create an incentive for people to increase their quantity of labor supplied, which will shift aggregate supply to the right and that will lower the price level and increase real GDP, is held by the

The percentage of the national debt held by foreigners is approximately 25 percent

a. True b. False Indicate whether the statement is true or false

Economists who believe that market concentration is not harmful to a country's economic well being

a. favor laissez-faire government policies b. think that markets should be regulated c. think that the government should own those monopolies d. like the idea of price controls e. are nonexistent