Refer to the diagram in which T is tax revenues and G is government expenditures. All figures are in billions. This diagram portrays the idea of:
A. progressive taxation.
B. built-in stability.
C. the multiplier.
D. discretionary fiscal policy.
B. built-in stability.
Economics
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Refer to the table above. Diminishing marginal returns sets in when:
A) the second worker is hired. B) the fourth worker is hired. C) the fifth worker is hired. D) the seventh worker is hired.
Economics
What was the nominal GDP in 2011?
a. 98.118
b. 101.755
c. 15,542.6
d. 15,840.7
Economics
The Fed increases the money supply by selling bonds
a. true b. false
Economics
If the MPC is 0.75, the tax multiplier is
A. -2.5. B. -3. C. -4. D. -5.
Economics