Economics Homework Help
Economics Homework Help. Arthur Laffer Tax Cut Timing
What is the “implicit” (that is, unspoken) assumption regarding timing in Arthur Laffer’s tax cut argument?
a. We are in the short run
b. We are in the long run
c. Producers react to tax changes rapidly
d. Producers react to tax changes very slowly
e. There is wide-spread money illusion
f. Real interest rates are less than nominal interest rates
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