One way fiscal policy affects aggregate demand is:
A. directly through government spending.
B. directly through tariffs.
C. directly through taxation.
D. All of these are true.
A. directly through government spending.
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When does an oligopoly market result in a cartel? What conditions must be present for the cartel to be successful?
What will be an ideal response?
If the consumption of a good by one person reduces its consumption by others, then the good is
A. nonrivalrous in consumption. B. rivalrous in consumption. C. nonexcludable. D. excludable. E. b and d
Which of the following will not cause a shift in the medical care supply curve?
a. a change in the cost of medical school tuition. b. a change in the percentage of the population with health insurance. c. an change in the amount of student aid available to promising undergraduate students studying biology. d. A change in the number of high-profile medical malpractice lawsuits brought against physicians increasing the premiums on malpractice insurance. e. A wave of union activity that increases the average salaries of nurses nationwide.
At the time of Kelsey's 20 year high school reunion she was earning $50,000 and the CPI was 120. Now that it is time for her to attend her 30 year high school reunion, Kelsey's income has risen to $97,000 and the CPI is 230. At her 30 year reunion, can Kelsey rightfully brag that her real income has risen since the last time she saw her former classmates ten years ago?
A) Yes, Kelsey's real income rose during that 10 year period. B) No, Kelsey's real income fell during that 10 year period. C) No, Kelsey's real income remained constant during that 10 year period. D) It is impossible to determine what happened to Kelsey's real income.