Refer to Figure 13.2. Oliver's political views initially placed him at the L4 position and George's political views initially placed him at the C4 position
If George comes out with a statement supporting an increase in taxes on the rich, which moves him to the C3 position, and Oliver responds by not only stating that taxes should not be raised, but in fact should be lowered, moving him to the L2 position, the winner of the election will be ________ with a winning vote total of ________. A) Oliver Cousins; 6 votes
B) George Glass; 5 votes
C) Oliver Cousins; 5 votes
D) George Glass; 6 votes
C
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Many economists believe that if fiscal policy turns contractionary to reduce the deficit,
a. monetary policy can turn expansionary to counteract the effects on aggregate demand. b. monetary policy must be contractionary to reinforce the good effects of contractionary fiscal policy. c. foreign investment in the United States must be encouraged. d. taxes on the earnings from stock market gains should be increased.
The payroll tax appears to be a proportional tax. In reality, it is
A. highly progressive. B. actually proportional. C. highly regressive. D. regressive on low-income persons and progressive on high-income persons.