Answer the following statement(s) true (T) or false (F)
1. Fiscal policy usually refers to actions at the federal government level.
2. In the early 1980s, tax cuts put the U.S. economy in a recession.
3. The largest fiscal stimulus package ever was enacted under President Obama.
4. Tax cuts and increased government purchases shift the aggregate demand curve in opposite directions.
5. Tax cuts are a fiscal tool.
1.true
2.false
3.true
4.true
5.true
You might also like to view...
Health insurance typically pays for most preventive care procedures in all of the following countries except
A) the United States. B) Canada. C) Japan. D) the United Kingdom.
Which of the following is not an important contribution of the agricultural sector to overall development:
a. increasing national food supplies b. permitting foreign exchange earnings through imports c. allowing excess labor to flow to urban areas d. providing savings for industrial investment e. increasing the demand for manufactured goods g. All of the above are important contributions.
The principal benefit of unemployment insurance is that it
a. reduces the occurrence of unemployment in the economy. b. replaces income lost due to unemployment. c. increases labor force participation. d. helps reduce the period of unemployment.
The new classical theoretical critique of the existing macroeconomic models is based on
A. the link between the money market and the goods market. B. the nature of the tradeoff between inflation and growth. C. wages and labor market equilibrium. D. the way people form their expectations.