According to supply-siders, an switch from taxing income to taxing consumption to will
a. lead to a permanent increase in output-per-worker.
b. lead to a temporary increase in output-per-worker.
c. lead to a decline in output-per-worker.
d. not change output-per-worker.
A
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Which of the following is true of cyclical unemployment?
A) Cyclical unemployment increases during periods of economic boom. B) Cyclical unemployment is the deviation of unemployment from its natural rate. C) Cyclical unemployment is also known as frictional unemployment. D) Cyclical unemployment decreases during periods of economic boom.
When one country can produce a good more efficiently than another country:
A. both can specialize in the industry in which they have comparative advantage and experience mutual gains. B. that country can specialize in that good and choose only to export goods. C. that country should produce that good and be the sole "winner" of trade. D. that country has no basis for trading with another nation.