Economists sometimes use the term "countercyclical"
What will be an ideal response?What will be an ideal response?
" to describe a federal government policy of increasing spending and cutting taxes in lean times and doing the reverse when the economy strengthens. State and local governments, in contrast, tend to follow a more procyclical policy, in which both recessions and booms are reinforced rather than counterbalanced
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A sales tax is a type of consumption tax
a. True b. False
The law of demand states that
A) people demand less at lower prices. B) the quantity demanded is directly related to price. C) the quantity demanded is inversely related to price. D) changes in price and changes in quantity demanded move in the same direction.
The components of a game include
A) the number of players. B) a set of implicit rules. C) perceptions and boundaries. D) all of these choices are included.
The GDP deflator of a country whose nominal GDP is $10.5 billion and real GDP is $8.5 billion is 123.5
a. True b. False Indicate whether the statement is true or false