We can infer that the government is following a restrictive fiscal policy when
A) the actual deficit falls.
B) the natural employment deficit falls.
C) the actual deficit rises.
D) the natural employment deficit rises.
B
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The value of a household's assets minus the value of its liabilities is called
A) wealth. B) income. C) debt. D) stock.
Multiple levels of government are desirable because _____
a. different governmental activities are best undertaken by governments of different sizes b. many governmental activities can only be financed if taxed at multiple levels of government c. multiple levels of government provide sufficient bureaucracy to deal with the complex problems faced by today's governments d. government could not be financed adequately without local governments doing the majority of the work ensuring compliance with the tax system
The more elastic the supply of a product, the more likely that the actual benefit of a subsidy granted of the product will
a. go to sellers. b. go to buyers. c. go equally to both buyers and sellers. d. do none of the above.
If the banking system has a required reserve ratio of 40 percent, then the money multiplier is:
A. 2. B. 2.5. C. 4. D. 8.