Fiscal policy is enacted through changes in:
A. Interest rates and the price level
B. The supply of money and foreign exchange
C. Unemployment and inflation
D. Taxation and government spending
D. Taxation and government spending
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In the figure above, point D is
A) less production efficient than point C. B) production efficient and point A is not production efficient. C) not production efficient and point B is production efficient. D) production efficient and point B is not production efficient.
Refer to Figure 10-2. Which of the following statements is true?
A) Points a and b may not necessarily be the utility-maximizing quantities of ice cream cones at two different prices because we have no information on the consumer's budget or the price of other goods. B) Points a and b are derived independently of the utility-maximizing model. C) Points a and b are the utility-maximizing quantities of ice cream cones at two different prices of ice cream. D) Point a could be a utility-maximizing choice if the price is $3 but point b may not be because we have no information on the marginal utility per dollar when price changes.
When buying a car from a commission salesman you improve your bargaining position by
a. shopping when the new model year cars have just arrived b. shopping when the showroom is empty of customers c. shopping when the car lot has only few cars left unsold d. shopping toward the beginning of the month
Which of these statements is a fundamental part of Keyneisan economics?
a. the federal government should have a balanced budget every year to protect economic growth b. the government can use of deficit spending to increase aggregate demand pull the economy out the reccession c. the economy will only reach equilibrium and prosperity through the self regulation of the free market