Edward Denison found that labor's contribution to output growth in the United States since 1929 was attributable to all the factors below except

Which of the following statements about taxation is incorrect?

a. A tax cut affects aggregate demand indirectly. b. A tax cut raises income and expenditures. c. Cutting taxes by $20 is not the same as increasing government spending by $20. d. A change in taxes does not affect consumption. e. An increase in taxes decreases income and expenditures.

Look at your dollar bill. Is it crisp and unmarred or old, wrinkled, and bent? The difference has much to do with the number of times that poor dollar has had to work during the year. Economists refer to that number as the

a. quantity theory of money b. velocity of money c. equation of exchange d. reproduction rate of money e. expenditure rate of money