(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.

Question

Quizplus · Accepted Answer

Buchwald's article uses satire to demonstrate how individual economic decisions can have far-reaching and unintended consequences, ultimately affecting the incomes and livelihoods of many people. The example he gives is of a person who decides not to buy a car, which leads to reduced demand for cars, which in turn affects the incomes of car manufacturers, auto dealers, mechanics, and others in the industry. This humorous illustration highlights the interconnectedness of economic systems and the ways in which individual actions can have ripple effects.

(Last Word) Art Buchwald's Article "Squaring the Economic Circle" Humorously