Supply-side economics calls for:
a. lower taxes on businesses and individuals.
b. All of the answers are correct.
c. regulatory reforms to increase productivity.
d. government subsidies to promote technological advance.
b
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When the price level increases, total planned real expenditures on goods and services falls. All of the following are responsible EXCEPT
A) the interest rate effect. B) the real-balance effect. C) the substitution effect. D) the open economy effect.
National income equals GNP
A) less depreciation, less net unilateral transfers, less indirect business taxes. B) less depreciation, plus net unilateral transfers, plus indirect business taxes. C) less depreciation, less net unilateral transfers, plus indirect business taxes. D) plus depreciation, plus net unilateral transfers, less indirect business taxes. E) less depreciation, plus net unilateral transfers, less indirect business taxes.