Supply-Side Economic Theory

question 39

Multiple Choice

Supply-side economic theory:

• A) Predicts that a decrease in the highest income tax rates will cause an increase in government revenues.
• B) Is inconsistent with the substitution effect.
• C) Was a clear failure following the Reagan administration tax cuts of the 1980s.
• D) Predicts that taxpayers will save their tax windfall from a rate cut rather than spend or investment the windfall.

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