Supply-side economists contend that the system of taxation in the United States:
A. Creates incentives to save and invest
B. Creates dis-incentives to work
C. Generates maximum tax revenue
D. Reduces the effects of cost-push inflation
B. Creates dis-incentives to work
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Suppose the growth rate of GDP in the United States is 4.2 percent. If 2.9 percent and 1.3 percent of GDP growth are due, respectively, to capital and labor growth, the amount resulting from technological progress is
A) 0 percent. B) 1.3 percent. C) 2.9 percent. D) 4.2 percent.
The expansionary monetary and fiscal policies of the 1960s resulted in
A) low inflation rates and low rates of unemployment. B) high inflation rates and high rates of unemployment. C) high inflation rates and low rates of unemployment. D) low inflation rates and high rates of unemployment.