Suppose the actual budget deficit increases when the economy falls into a recession. This is an indication that
A) monetary policy was used during the recession.
B) monetary policy was not used during the recession.
C) fiscal policy was used during the recession.
D) fiscal policy was not used during the recession.
C
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Some economists believe that our best years of economic growth are behind us
a. True b. False Indicate whether the statement is true or false
An empirical analysis relies on _____ to test a theory.
A. common sense B. ethical considerations C. data D. customs and conventions
Border effects can result from:
a. trade. b. tariffs. c. monopolistic competition. d. imperfect competition.
Assume a competitive market has firms earning large economic profits. What is expected to happen over time in this competitive market and to firm's profits?
What will be an ideal response?