In October 2008, President Bush Enacted the Alternative Minimum Tax

question 143

Multiple Choice

In October 2008, President Bush enacted the Alternative Minimum Tax Relief Act of 2008, which resulted in lower taxes on labor income. According the supply-side view, this would result in

• A) a rightward shift in the supply of labor curve.
• B) a leftward shift in the supply of labor curve.
• C) an increase in the tax wedge.
• D) a movement along the supply of labor curve.

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Definitions:

Familiarity Effect

The tendency of people to feel more positive toward a person, item, product, or other stimulus the more familiar they are with it.

Positive Toward

Positive toward is not a recognized psychological or scientific term and may be a typographical error or miscommunication. NO.

Stereotypes

Oversimplified and widely held beliefs about the characteristics, attributes, and behaviors of a particular group of people.

Exaggerate Differences

The act of making distinctions between entities more pronounced or significant than they actually are.