The emphasis on the greater incentives to produce, created by lower taxes, has come to be known as:
a. the trickle-down economics.
b. the supply-side economics.
c. the paradox of thrift.
d. the permanent income hypothesis.
e. monetarism.
b
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In the short run, an increase in the price level causes which of the following: a. A rightward shift in the aggregate demand curve
b. A leftward shift in the short-run aggregate supply curve. c. A rightward shift in the short-run aggregate supply curve. d. A movement upward along the short-run aggregate supply curve.
A patent is
A. a recognizable right to the profits associated with a new product or new way of making goods granted by business associations. B. the right to make a product and sell it at a reasonable price. C. a government protection that gives an inventor the exclusive right to the invention for a limited time period. D. a government protection that gives an inventor the exclusive right to the invention for an unlimited time period.