A "conservative" would most likely argue in favor of
a. tax increases when fiscal stimulus is necessary, and spending cuts when fiscal restraint is necessary.
b. tax cuts when fiscal restraint is necessary, and spending cuts when fiscal stimulus is necessary.
c. tax cuts when fiscal stimulus is necessary, and spending cuts when fiscal restraint is necessary.
d. spending increases when fiscal expansion is necessary, and tax increases when fiscal stimulus is necessary.
c
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What is the distinction between expected wealth and expected utility?
What will be an ideal response?
Explain why the budget deficit and the trade deficit are sometimes referred to as the "twin deficits."
What will be an ideal response?
The primary function of the International Monetary Fund is
A) to provide loans only to private firms in developing countries. B) to make direct, irrevocable transfers of funds from wealthy nations to poor nations. C) to lend solely on the basis of a nation's relative poverty. D) to make loans aimed at promoting global stability and hence growth.
The most efficient market structure in the long run is
a. perfect competition. b. monopolistic competition. c. oligopoly. d. monopoly.