The graph that shows the relationship between the size of a tax and the tax revenue collected by the government is known as
a. deadweight curve
b. tax revenue curve
c. Laffer curve
d. Reagan curve
e. none of the above is correct
c. Laffer curve
Economics
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The ________ the proportion of one's budget spent on a good, the ________ the elasticity of demand
A) greater; lower B) greater; greater C) lower; greater D) lower; more responsive
Economics
Refer to Figure 28-1. Suppose that the economy is currently at point A, and the unemployment rate at A is the natural rate. What policy would the Federal Reserve pursue if it wanted the economy to move to point C in the long run?
A) Sell treasury bills. B) Increase the money supply. C) Lower the discount rate. D) Buy treasury bills. E) No policy will move the economy to point C in the long run.
Economics