Which Statement(s) Is/are TRUE? I

question 101

Multiple Choice

Which statement(s) is/are TRUE? I. Changes in tax rates impact only aggregate demand.
II) According to the Laffer curve, if the tax rate is above 50%, lowering the tax rate will always raise tax revenue.
III) A repeal of existing investment tax credits will cause aggregate supply to shift to the left.

• A) I and II only
• B) II and III only
• C) II only
• D) III only

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Reading

The process of interpreting and understanding written or printed material.

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Produced or made using machinery in a systematic process, typically on a large scale in factories.

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