Refer to the information provided in Figure 32.2 below to answer the question(s) that follow.
Figure 32.2Refer to Figure 32.2. According to the monetarists, a recession can be caused when
A. AS1 shifts to the left.
B. AD1 shifts to the left.
C. LRAS shifts to the left.
D. AD1 shifts to the right.
Answer: B
Economics
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Which of the following will cause an increase in aggregate supply?
A) decreased competition B) an increase in the price level C) an increase in marginal tax rates D) a decrease in input prices
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Under a progressive tax system: a. only the rich are taxed
b. higher marginal taxes are imposed on higher incomes. c. lower taxes are imposed on everyone. d. everyone pays the same percent of their income for tax.
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