A Congressional representative who calls for a decrease in tax rates in order to increase saving, work effort, and economic growth would most likely be advocating:
A. An easy money policy
B. A tight money policy
C. A supply-side fiscal policy
D. A contractionary fiscal policy
C. A supply-side fiscal policy
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Professor I.M. Dismal returns to campus in the fall to find that the bookstore is charging 10% more for the new economics textbooks he ordered this year compared to last year
On the basis of this information, and using the economic way of thinking, what can Professor Dismal clearly conclude? A) The economy has experienced a 10% inflation over the year. B) The economy has experienced a 10% deflation over the year. C) The economy has experienced a disinflation over the year. D) The economy has experienced a steady price level over the year. E) The bookstore is charging 10% more for the new textbooks he ordered this year compared to last year.
A graphic representation of the quantities of a good that will be bought at each price
a. demand curve b. income effect c. elastic d. inferior good