Fiscal policy most directly affects the economy by increasing or decreasing:
A. aggregate demand.
B. interest rate.
C. long-run aggregate supply.
D. the money supply.
A. aggregate demand.
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Suppose that there are only three consumers of a product. At a price of $6 per unit, the first consumer would buy 12 units of the product, the second consumer would buy 8 units, and the third consumer would buy 3 units of the product
If you drew a market demand curve for this product, the quantity demanded at a price of $6 would be A) 23 units. B) 20 units. C) 12 units. D) 11 units.
Public choice is concerned with decision making by
A) consumers. B) businesses. C) government. D) foreigners. E) consumers and businesses.
According to the classical economists, if there is a recession, the government should ________.
Fill in the blank(s) with the appropriate word(s).
Which of the following is true?
A. Nations achieve high rates of economic growth primarily because of their natural resource endowments. B. Human and physical capital investments are largely irrelevant to economic growth. C. Poor nations grow slowly because they do not have access to modern technology. D. A favorable political environment attracts more investment in human and physical capital.