Suppose the actual budget deficit remains unchanged when the economy falls into a recession. This is an indication that
A) fiscal policy was used during the recession.
B) monetary policy was not used during the recession.
C) fiscal policy was not used during the recession.
D) monetary policy was used during the recession.
C
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Grocery store chains advertise more than convenience stores because:
A) the advertising elasticity of demand is smaller for grocery store chains than for convenience stores. B) convenience stores have more elastic demand for their products than grocery store chains. C) the advertising elasticity of demand for convenience stores is near zero and is much smaller than for grocery store chains. D) all of the above E) none of the above
If the marginal propensity to consume in a country is 0.6, then a $5,000 increase in transfer payments will lead to a _____ in real GDP
a. $8,000 increase b. $2,500 decrease c. $5,000 decrease d. $7,500 increase
Where is testosterone produced?
A. Ejaculatory ducts B. Prostate gland C. Seminal vesicles D. Testes
Economic profits and losses are TRUE market signals because they
A. convey information about rewards people should anticipate experiencing by shifting resources from one activity to another. B. convey information to public officials about where to encourage people to invest and what skills people should develop. C. cause people to move into careers in both undesirable and desirable industries with equal ease. D. convey information in an asymmetrical fashion.