One Part of the Supply-Side Argument Is That

question 154

Multiple Choice

One part of the supply-side argument is that

• A) lower marginal tax rates are required to induce Congress to reduce government spending.
• B) lower marginal tax rates can increase total tax revenues.
• C) the marginal tax rate should be set at 50 percent.
• D) the relevant aggregate supply curve is close to horizontal.

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Definitions:

Legal Realism

A school of legal thought that holds that the law is only one factor to be considered when deciding cases and that social and economic circumstances should also be taken into account.

Criminal Statutes

Laws enacted by legislatures that define crimes and set forth punishments.

Society

A community of people living together in a more or less ordered community, often with shared laws, traditions, and values.

Wrongs

Actions or conduct that are considered unjust, immoral, or harmful to others, often subject to legal remediation.