After Reagan cut taxes 25% in 1981, a)Revenues dropped and Reagan had to increase taxes again in 1982 b)The Democrats responded by cutting military spending by 25%. c)The economy recovered and the tax cuts paid for themselves d)The Soviets published propaganda claiming to show that the cuts favored the rich dont use chatgpt answer i will 5 upvotes.

After Reagan cut taxes 25% in 1981, a)Revenues dropped and Reagan had to increase taxes again in 1982 b)The Democrats responded by cutting military spending by 25%. c)The economy recovered and the tax cuts paid for themselves d)The Soviets published propaganda claiming to show that the cuts favored the rich dont use chatgpt answer i will 5 upvotes.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Consider an economy in which people spend 90 percent of each additional dollar of income they earn. If the government does easy (expansionary) fiscal policy via changing taxes by $2000, what will be the total effect on Y? Carefully follow all numeric instructions. Use a positive number (no sign) to show an increase in Y and a negative number (with negative sign) to show a decrease.
One of the noted proposals to "fix" Social Security is would which Provide more benefits to workers 50 - 55; balance the pool of eligible pension recipients Privatization; transfer the management of Social Security to the private sector Leave the program unchanged; resolve costs due to economic fluctuations over three decades Cut payroll taxes to zero; unleash the US economy to make the program solvent One of the noted proposals to "fox" Social Security is would which O Provide more benefits to workers 50:55: balance the pool of eligible pension recipients O Privatization: transfer the management of Social Security to the private sector O Leave the program unchanged, resolve custs due in economic fluctuations over three decades O Cut payroll taxes to zero; unleash the US economy to make the program solvent
The Laffer curve suggests A.there is some maximum amount of tax revenue that the government can collect from taxing income. B.the optimal tax rate leads to the highest amount of tax revenue. C.the optimal tax rate on labor income is 0% D.an increase in tax rates leads to an increase in labor supply.
Consider the economy of Cocoland, where citizens consume only coconuts. Assume that coconuts are priced at $1 each. The government has devised the following tax plans: Plan A • Consumption up to 1,000 coconuts is taxed at 35%. • Consumption higher than 1,000 coconuts is taxed at 20%. Plan B • Consumption up to 2,000 coconuts is taxed at 10%. • Consumption higher than 2,000 coconuts is taxed at 25%. Use the Plan A and Plan B tax schemes to complete the following table by deriving the marginal and average tax rates under each tax plan at the consumption level of 700 coconuts, 1,500 coconuts, and 2,500 coconuts, respectively. Consumption Level Plan A Plan B (Quantity of coconuts) Marginal Tax Rate Average Tax Rate
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In an election year, two candidates for the prime minister position of Country S have set a debating session on the country’s long run economic future with each holds a different vision. Candidate A favours holding the line on taxes (fixed) and increasing government spending while Candidate B also favours holding the line on taxes, but wish to reduce government spending. The economy of Country S now is in recession due to the Covid-19 pandemic where unemployment rate is high, inflation level is low and economic growth is negative. Assume Candidate A wins the election and his programmes are enacted, the government of Country S would begin to run deficit budget. Explain the effects of Candidate A programmes on Country S’s unemployment rate, inflation level as well as economic growth.
Find the number of people employed in the country from the articel. Explain your reasoning.
If the government increases taxes, what happens to the price index and the actual real GDP holding all else constant? Group of answer choices In this case, the price index decreases and the actual real GDP decreases. In this case, the price index increases and the actual real GDP decreases. In this case, the price index increases and the actual real GDP increases. In this case, the price index decreases and the actual real GDP increases.
Which of the following was an issue that divided the Democrats and Republicans in the 19th century? Group of answer choices ideological divisions economics immigration Race lack of corruption.
If Congress can agree on a fourth round of stimulus checks for Americans due to the pandemic, this is an example of what type of policy O Monetary O Fiscal O Executive Order O IRS Order
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