Suppose a constitutional amendment is passed that mandates a balanced federal budget every year and the President and Congress consistently carry this mandate out. This would be an example of
A) active policy making.
B) decisive policy making.
C) nondiscretionary policy making.
D) cooperative policy making.
C
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With regard to incomes at the time of the Revolution,
(a) colonial incomes before taxation were high, but because of heavy taxation, after-tax incomes were lower than those of the British. (b) there is no data available that provide any information on the subject. (c) both before-tax and after-tax colonial incomes were lower than those in England. (d) incomes in the colonies were higher than in England, especially after-tax incomes, because of relatively light taxation of the colonists.
Two main reasons that the deficit may increase are:
A. decreases in tax revenues and an increase in government spending. B. changes in interest rates and unemployment. C. increases in household spending and decreases in firm spending. D. decreases in tax revenues and government spending.
Why did President Obama want to repeal the Bush era tax cuts on upper income taxpayers? How would the repeal of these tax cuts impact aggregate demand and to what degree? How did the economic conditions in 2010 make such a repeal less likely to take place?
Kevin has lost his job in an automobile plant because the company switched to robots for its welding step in the assembly line. Kevin plans to go to technical school to learn how to repair microcomputers. The type of unemployment Kevin is faced with is:
A. Cyclical B. Frictional C. Structural D. Natural