Deliberately cutting taxes or increasing expenditures to fight an economic downturn is called ________
Fill in the blank(s) with correct word
discretionary fiscal policy
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When a firm maximizes its profit, which of the following is correct for firms in monopolistic competition and perfect competition?
A) P = MC for both types of firms. B) P = MR = MC for firms in perfect competition and P > MR = MC for firms in monopolistic competition. C) MR = MC for firms in perfect competition and MR > MC for firms in monopolistic competition. D) P > MR = MC for firms in both perfect competition and monopolistic competition. E) P = ATC always for firms in both perfect competition and monopolistic competition.
For a competitive market,
a. a seller can always increase her profit by raising the price of her product. b. if a seller charges more than the going price, buyers will go elsewhere to make their purchases. c. a seller often charges less than the going price to increase sales and profit. d. a single buyer can influence the price of the product but only when purchasing from several sellers in a short period of time.
Which of the following explains the spread of financial crises from one country to another?
A. Moral hazard B. Global contagion C. Butterfly trade D. The Doppler effect
The ________ of an uncertain payoff is defined as the weighted average of all possible outcomes, where the probability of each outcome is used as the weights.
A. expected value B. variance C. skewness D. standard deviation