If the economy was about to enter an inflationary boom, which of the following would be the most appropriate policy?

a. A tax increase.
b. A decrease in government spending.
c. An increase in government spending.
d. A tax decrease.


a

Economics

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If the real gross domestic product (GDP) for the base year is $4 trillion, then the nominal gross domestic product (GDP) for that year is _____

a. ?$.04 trillion b. $0.4 trillion c. $4 trillion d. $40 trillion e. $400 trillion

Economics

The halfway-point between the buyer's valuation and the seller's opportunity cost is:

a. sometimes a focal point. b. where the two parties invariably agree to transact. c. outside the core. d. inside the utility possibility frontier.

Economics

Scarcity and choice are the basic problems of economics; the supply and demand mechanism is the basic investigative tool of economics

a. True b. False Indicate whether the statement is true or false

Economics

For a normal good, an expected increase in income would: a. shift demand to the right

b. shift demand to the left. c. increase the slope of the demand curve. d. decrease the slope of the demand curve.

Economics