Government decisions about the level of taxation and public spending are called:
A. legislative budgeting policy.
B. fiscal policy.
C. congressional policy.
D. monetary policy.
Answer: B
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The factors of production are the:
A. ingredients that go into making any good or service. B. outputs that society as a whole have chosen to produce. C. costs and benefits of a given production process. D. list of inputs required for a given durable good.
During 1980 through 2010,
a. the per capita income of high-income industrial countries declined. b. the fastest growing economies in the world were LDCs. c. almost all LDCs grew more rapidly than the high-income industrial economies. d. most of the countries with rapid growth rates during the last two decades were located in South America.
Which of the following is most likely sold in a monopolistically competitive market?
a. wheat b. cable TV programming c. a share of McDonald's stock d. sunglasses
Liquidity preference refers directly to Keynes' theory concerning
a. the effects of changes in money demand and supply on interest rates. b. the effects of changes in money demand and supply on exchange rates. c. the effects of wealth on expenditures. d. the difference between temporary and permanent changes in income.