In the Keynesian view, a reduction in the marginal income tax rate would cause
a. output to rise and the price level to fall.
b. both output and the price level to rise.
c. output to rise with the price level unchanged.
d. the price level to rise with output unchanged.
B
Economics
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What will be an ideal response?
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In which of the following markets is economic profit driven to zero in the long run?
a. oligopoly b. monopoly c. monopolistic competition d. cartels
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