During the Reagan administration, the Laffer curve was used to ...

[09madisonrousseau09]

During the Reagan administration, the Laffer curve was used to ague that:
 a. the supply-side effects of tax cuts are relatively small.
  b. discretionary tax cuts are unwise because they create stagflation.
  c. lower income tax rates could increase tax revenues.
  d. a flat tax would simplify the tax code and stimulate economic growth.

Question 2

The relationship between inflation and unemployment shown along a Phillips curve is a(n):
 a. direct relationship.
  b. quadratic relationship.
  c. exponential relationship.
  d. inverse relationship.
  e. parabolic relationship.

[ryansturges]

Answer to Question 1

c

Answer to Question 2

d