The Kennedy Tax Cut, enacted in 1964 after his death, was the first supply-side tax cut used in U.S. history. Its intent was to stimulate the economy by reducing tax rates in order to do what?

The elasticity of supply does NOT depend on

A) resource substitution possibilities. B) the fraction of income spent on the product. C) the time elapsed since the price change. D) none of the above because all of the factors listed affect the elasticity of supply.

Chairmen of the Federal Reserve Board

A) serve 14-year terms as chairmen. B) serve 4-year renewable terms as chairmen. C) also serve as members of the administration. D) serve 4-year non-renewable terms as chairmen. E) none of the above