Appropriate supply-side policy (or policies) during a recession would be to do which of the following?
a. Cut taxes on business.
b. Reduce costly regulations on businesses.
c. Increase government spending.
d. Both a. and b. above are correct.
Question 2
In the United States, the Phillips curve in the 1960s:
a. shifted upward dramatically.
b. shifted upward moderately.
c. remained stable.
d. shifted downward moderately.
e. shifted downward dramatically.