Refer to the graph below. A movement from point C to point D on the Laffer Curve represents:
A. Increased tax rates from T2 to T3 and increased tax revenues from R2 to R3
B. Decreased tax rates from T3 to T2 and increased tax revenues from R2 to R3
C. Decreased tax rates from T3 to T2 and decreased tax revenues from R3 to R2
D. Increased tax rates from T2 to T3 and decreased tax revenues from R3 to R2
C. Decreased tax rates from T3 to T2 and decreased tax revenues from R3 to R2
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In the U.S., society makes decisions on the direction of government policies and the provision and financing of public goods through a process that relies heavily on:
A. Unanimous voting B. General voting C. Universal voting D. Majority voting
Value judgments in economics:
A. are essential parts of positive economics. B. can be avoided through the use of normative economics. C. are necessary when objective analysis cannot address a question. D. can always be avoided with the use of objective analysis.