Last Word) Art Buchwald’s article “Squaring the Economic Circle” humorously describes how:
A)a person’s decision not to buy an automobile eventually reduces many people’s incomes, including that of the person making the original decision.
B)a price increase on a single product eventually leads to rapid inflation.
C)an increase in imports eventually leads to a greater increase in exports.
D)a government tax rate increase eventually results in the government collecting less tax revenue than before the tax rate hike.
Answer:A
Last Word) Art Buchwald’s article “Squaring the Economic Circle” humorously describes how:
A)a person’s decision not to buy an automobile eventually reduces many people’s incomes, including that of the person making the original decision. B)a price increase on a single product eventually leads to rapid inflation. C)an increase in imports eventually leads to a greater increase in exports. D)a government tax rate increase eventually results in the government collecting less tax revenue than before the tax rate hike.