Suppose government spending rises by $120 billion. It follows that if private expenditures
A) rise by $120 billion, complete crowding out exists.
B) fall by $100 billion, incomplete crowding out exists.
C) remain unchanged, complete crowding out exists.
D) rise by more than $120 billion, complete crowding out exists.
E) b and c
B
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The law of demand asserts that all else equal, if the price of a good ________, the quantity demanded of that good ________
A) stays the same; decreases B) falls; decreases C) rises; stays the same D) falls; increases E) None of the above is correct.
Of the following countries, in which one was the true marginal tax rate faced by the typical worker lowest and the average number of hours worked per week highest from 1993 through 1996?
A) Canada B) Germany C) Italy D) the United States
Education and training are ways to build:
A. human capital. B. physical capital. C. technological capital. D. All of these could be true.
According to the law of demand, when the price of gas rises, Question 28 options:
A. people will drive more. B. oil refining companies record financial losses. C. car sales increase. D. people decrease the quantity of gas demanded, perhaps by driving less.