Which of the following was a successful application of fiscal policy in the United States?
a. Roosevelt's strategy in combating the Great Depression
b. The tax cut of 1964
c. The temporary tax surcharge of 1968
d. The battle against stagflation during the 1970s
e. The large tax cut of 1981
b
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In 2008, as the economy moved into a recession,
A) cyclical unemployment increased. B) structural unemployment decreased. C) natural unemployment decreased. D) frictional unemployment was not affected. E) the number of marginally attached workers decreased.
If the government imposes a binding price ceiling in a market, then the producer surplus in that market will increase
a. True b. False Indicate whether the statement is true or false
If the marginal cost of the 5,000th unit is $0.06 and the average total cost of the 5,000th unit is $0.10:
A. total cost is falling. B. average variable cost is falling. C. average total cost is falling. D. average fixed cost is rising.
The upward slope of the supply curve reflects the
A. Principle of diminishing marginal productivity B. Principle of specialization in production C. Fact that price and quantity supply are inversely related D. Law of increasing substitution