The Laffer Curve Shows That Increasing ________ Increases ________ When

question 87

Multiple Choice

The Laffer curve shows that increasing ________ increases ________ when ________ low.

• A)tax revenue; potential GDP; tax revenue is
• B)the tax rate; tax revenue; the tax rate is
• C)potential GDP; tax revenue; tax revenue is
• D)government outlays; the budget deficit; government expenditure is
• E)investment; potential GDP; the interest rate is

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Definitions:

Individualism

A school of thought that endorses the independence of the individual rather than submission to collective or governmental constraints.

Self-efficacy

The belief in one's ability to succeed in specific situations or accomplish a task.

Self-image

An individual's mental representation of themselves, which includes perceptions, thoughts, and feelings about their abilities and characteristics.

Conditioning

A technique of changing behavior whereby a person begins to link a behavior they desire with a stimulus that was once not related to it.