According to supply-siders
a. there exists a temporary tradeoff between higher inflation and higher output growth.
b. there exists a permanent tradeoff between higher inflation and higher output growth.
c. there exists no tradeoff between higher inflation and higher output growth.
d. there exists a temporary tradeoff between higher inflation and higher output growth during periods of low inflation only.
C
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If a good has a negative income elasticity of demand, this indicates that the good is
A) normal. B) a substitute with another good. C) inferior. D) a complement with another good.
Economically speaking, the design of Medicare
A) encourages the consumption of medical services. B) discourages the consumption of medical services. C) helps to decrease the cost of care to non-Medicare patients. D) discourages the provision of medical services.