An economist who favors smaller government would recommend:
A. tax cuts during recession and reductions in government spending during inflation.
B. tax increases during recession and tax cuts during inflation.
C. tax cuts during recession and tax increases during inflation.
D. increases in government spending during recession and tax increases during inflation.
A. tax cuts during recession and reductions in government spending during inflation.
You might also like to view...
Figure 10-3
?
In Figure 10-3, the perfectly competitive firm is realizing a
A. loss equal to ABCE. B. profit equal to ABCE. C. profit equal to ABDF. D. loss equal to ABDF.
An increase in market demand for a product in a competitive market will raise profits for firms currently in the market
a. true b. false
Given the following hypothetical data where C = $3,000; I = $1,200; G = $2,000; X ? M = ?$500; depreciation = $200; transfer payments = $800, net domestic product is _____.
a. $5,500
b. $5,700
c. $6,200
d. $6,400
e. $6,900
Which is not characteristic of a centrally planned economy?
a. The central government owns all land and capital. b. The central government makes all economic decisions. c. Each collective or factory sets its own goals. e. Each person is assigned a job.