Both presidents Kennedy and Reagan proposed significant cuts in income taxes. Opponents of these tax cut proposals argued that

A) it would be better to cut taxes on corporate profits.
B) cutting state sales taxes, rather than federal income taxes, would result in greater economic efficiency.
C) while the tax cuts would result in greater economic efficiency, there was too much opposition to the tax cuts in Congress. As it turned out, Congress ultimately approved both tax cut proposals.
D) the tax cuts would benefit high-income taxpayers.

D

Economics

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At the economy's natural rate of unemployment

A. only frictional unemployment exists. B. there is only a relatively small amount of cyclical unemployment. C. only structural unemployment exists. D. the economy is fully employed.

Economics

Use the following demand and supply functions: Demand:Qd = 900 - 60PSupply:Qs = -200 + 50PIf the price is currently $11, there is a

A. shortage of 240 units. B. surplus of 350 units. C. shortage of 700 units. D. surplus of 110 units.

Economics