Question

Generally, _____________ public figures tend to stress region ii of the laffer curve, where tax rate reductions lead to _____________ tax revenue. _____________ emphasize region i, where rate increases lead to _____________ tax revenue. both regions are important for economic policy.

Answer 1

1) Conservative
2) increased
3) Liberals
4) more
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Answer 2

conservative; increased

Liberals; less

Step-by-step explanation:

The Laffer curve illustrates the relationship between tax rates and the amount of tax revenue collected by governments. According to conservatives, tax rate reductions lead to increased tax revenue by boosting economic activity. Liberals emphasize that tax rate increases may lead to tax revenue as the increases in tax rates may encourage tax avoidance.