Fiscal policy refers to
A) efforts to balance a government's budget.
B) changes in the money supply to achieve particular economic goals.
C) changes in government expenditures and taxation to achieve particular economic goals.
D) the change in private expenditures that occurs as a consequence of changes in government spending.
C
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Monopolistic competition is an inefficient market structure because
a. price exceeds marginal cost. b. it has a deadweight loss, just as monopoly does. c. at the equilibrium, some consumers will value the good at more than the marginal cost of production. d. All of the above are correct.
Which of the following statements is correct?
A. Export sales are not important to U.S. industries because U.S. GDP is so large. B. Many U.S. industries are very dependent on export sales. C. The United States is increasingly dependent on exports, but not on imports. D. The United States would not be affected if it quit importing goods.
Under current WTO rules, a country can adopt:
A. any environmental standard it chooses, even if it discriminates against foreign producers. B. any environmental standard it chooses as long as it does not discriminate against foreign producers. C. only WTO-approved environmental standards. D. only the same environmental standards as its immediate geographic neighbors.
Which statement describes an opportunity cost that could result from the government regulating businesses?
A) Less recalls occur as a result of government regulations. B) Government regulations can lead to an increase in product safety. C) Government regulations can lead to an increase in production costs. D) Consumer protection declines as a result of government regulations.