During the period from 2001 to 2006, there were several major cuts in personal income tax rates. What effect did these have on the value of the multiplier?
a. They decreased the value of the multiplier.
b. They had no effect on the multiplier.
c. They increased the value of the multiplier.
d. The effect was uncertain.
c
Economics
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Answer the following questions true (T) or false (F)
1. If average product is decreasing, then marginal product must be negative. 2. If a firm experiences diminishing returns its marginal product must be negative. 3. The additional output a firm produces by hiring one more worker is called the marginal product of labor.
Economics
A measure of GDP in which quantities produced are valued at the prices of a fixed base year is called:
A. current GDP. B. real GDP. C. nominal GDP. D. base GDP.
Economics