Which of these faulty economic policies was adopted by President Hoover during the Great Depression?
a. An increase in tax rate
b. An increase in trade barriers
c. A decrease in tax rate
d. A decrease in government spending
e. An increase in government spending
a
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Consider a downward-sloping demand curve. When the price of a normal good increases, the income and substitution effects
A) work in the same direction to increase quantity demanded. B) work in the same direction to decrease quantity demanded. C) work in opposite directions and quantity demanded increases. D) work in opposite directions and quantity demanded decreases.
The corporate income tax in the United States
A) excludes dividends paid out. B) only taxes retained earnings. C) results in individuals' being doubly taxed on corporate earnings. D) does not apply to profits earned on exports.