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Part of the program called for large tax cuts for the wealthy.♥
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What was one reason some people opposed supply-side economics?
Part of the program called for large tax cuts for the wealthy ♥
What does supply mean in economics?
Supply is the amount of a product.
What was a fundamental element of supply-side economics?
A fundamental element of supply-side (or "Voodoo") economics is the so-called "trickle-down effect". It is said that if the richest people get more, their "overrun" of resources will make everyone richer.
What best explains why the games of economics cannot eliminate scarcity?
No matter how much supply is produced, people's demands will always increase to exceed supply.
How did President Reagan's supply's economics work?
Taxes are reduced, so people have increased income to spend.
What was one reason some people opposed supply-side economics?
Part of the program called for large tax cuts for the wealthy ♥
What is a reason that prices of a product would go down?
Supply and demand. Economics.
What does supply mean in economics?
Supply is the amount of a product.
What does ''demand'' mean for econmocs?
In economics demand is what people want Supply is what companies want to sell
How do Keynesian economics and supply-side economics compare and contrast?
Keynesian economics uses government to increase aggregate demand through both spending and tax cuts. Supply-side economics tries to increase aggregate supply through tax cuts.
What was a fundamental element of supply-side economics?
A fundamental element of supply-side (or "Voodoo") economics is the so-called "trickle-down effect". It is said that if the richest people get more, their "overrun" of resources will make everyone richer.
What best explains why the games of economics cannot eliminate scarcity?
No matter how much supply is produced, people's demands will always increase to exceed supply.
What are the tools of economics?
demand and supply
Law of economics?
Supply and demand.
Economics is contolled by what?
Demand and supply.
How did President Reagan's supply's economics work?
Taxes are reduced, so people have increased income to spend.
What is another name for reaganomics?
Trickle-Down Economics and Supply-side Economics
