The main shortcoming of the market, in the view of many,
A. lies in the arena of justice and injustice.
B. lies in the area of consumer goods production.
C. is its inability to stimulate the creation of new products.
D. is its drag on growth in productivity.
Answer: A
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Which of the following is one explanation as to why the aggregate demand curve slopes downward?
A) Decreases in the price level raise the interest rate and increase consumption spending. B) Decreases in the price level raise the interest rate and increase investment spending. C) Decreases in the price level raise real wealth and increase consumption spending. D) Decreases in the U.S. price level relative to the price level in other countries lower net exports.
The marginal tax rates on the richest Americans when Ronald Reagan was elected and when he left office were
a. 28 percent and 50 percent, respectively. b. 70 percent and 40 percent, respectively. c. 40 percent and 70 percent, respectively. d. 50 percent and 28 percent, respectively.