Suppose Congress decreases income taxes. This is an example of
A) expansionary fiscal policy.
B) expansionary monetary policy.
C) contractionary fiscal policy.
D) contractionary monetary policy.
A
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The outputs of an oligopolistic industry
A) can be homogeneous or differentiated. B) must cost above $100 on the market. C) always have excise taxes imposed on them. D) have no substitutes on the market.
An individual's value for a good or service is the
a. The amount of money he or she used to pay for a good b. The amount of money he or she is willing to pay for it c. The amount of money he or she has to spend on goods d. None of the above
According to the Cost-Benefit Principle, you should go see the latest Star Wars movie with your friends this weekend if:
A. the extra benefits of seeing the movie are greater than the extra costs of seeing the movie. B. you can afford to go to the movies. C. the average benefit you get from going to the movies is greater than the average cost of a ticket. D. you really like Star Wars.
The M1 money supply is composed of
A. all coins and paper money held by the general public and the banks. B. bank deposits and mutual funds. C. checkable deposits and currency in circulation. D. bank deposits of households and business firms.