If Congress increases government spending, it is using
A. monetary policy.
B. fiscal policy.
C. incomes policy.
D. supply-side policy.
Answer: B
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A monopoly that sells every unit of its output at the same price is a ________
A) unit-price monopoly B) legal monopoly C) natural monopoly D) single-price monopoly
Over the period 1900-2014, which of the following countries experienced the highest average annual growth rate of real GDP per person?
a. Brazil b. China c. India d. Pakistan
Exhibit 6A-6 Consumer equilibrium
?
As shown in Exhibit 6A-6, movement from consumer equilibrium at point Y to point X is caused by a(n):
A. increase in the price of good X. B. decrease in the price of good X. C. increase in the price of good Y. D. decrease in the price of good Y.
In the private sector where firms compete for profit, if a firm is inefficient, ________. In the public sector, if a government bureau is producing a necessary service and is doing so inefficiently, ________.
A. it does not need to worry about customers; it does not need to worry about customers B. the market will drive it out of business; it does not need to worry about customers C. it does not need to worry about customers; the market will drive it out of business D. the market will drive it out of business; the market will drive it out of business