Congress and the president carry out fiscal policy through changes in
A) interest rates and the money supply.
B) taxes and the interest rate.
C) government purchases and the money supply.
D) government purchases and taxes.
Answer: D
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By 2015, spending on federal health care programs such as Medicare and Medicaid had grown to 6 percent of GDP
Indicate whether the statement is true or false
Throughout 2008, inflation and the real interest rate declined together. The cause is a combination of ________
A) monetary policy easing and declining autonomous spending B) declining autonomous spending and movement along a fixed MP curve C) monetary policy tightening and inversion of the MP curve D) increased government spending and movement along a fixed MP curve E) none of the above
Entry of a second firm will result in a downward shift in the ATC curve.
Answer the following statement true (T) or false (F)
Economic growth can be portrayed as:
A. an outward shift of the production possibilities curve. B. an inward shift of the production possibilities curve. C. a movement from a point on to a point inside a production possibilities curve. D. a movement from one point to another point on a fixed production possibilities curve.