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1)According to Progressives industrial growth was to follow all of the following except a
1)According to Progressives industrial growth was to follow all of the following except
a. nationalistic sentiment
b. government subsides to business
c. collective social order
d. fierce economic competition
2)William Howard Taft supported Theodore Roosevelt's use of executive branch power.
True
False
3)Consider the market for goods and services. Faced with a change in public spending, the effect on the equilibrium income level will be greater, as ___________.
a) the tax rate (t1) is higher
b)the tax rate (t1) is lower
c)the autonomous tax (t0) and the tax rate (t1) are higher
d)the autonomous tax (t0) is higher
Expert Solution
1)the right answer is c, which is collective social order.
Progressive industrial growth follow all of the elements like government subsidies, fierce economice growth or whether nationalistic sentiments of the people but it is not followed the social order during the progressive growth.
2)This statement is false.initially taft and roosevelt were close friends but then political differences started to arise between them.
Therefore taft did not support roosevelts use of executive bench power.
3)Option b is correct. If an economy faced with change in public spending, the effect on equilibrium will be greater as the tax rate (t1) is lower. Because if tax rate is lower, increase in public spending leads to greater increase in equilibrium level of income.Increase in government spending will increase consumption, and investment level in the economy. It results increase in equilibrium level of income All other options are wrong. If tax rate and autonomous tax rate is higher, increase in public spending will not make greater changes in equilibrium level of income
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