Which of the following terms best describes the situation in which a country is running both a trade and a budget deficit?
a. neutral deficits
b. twin deficits
c. Ricardian equivalence
d. balance of trade
b. twin deficits
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The study of the decision-making process of government is the study of:
A. Keynesian economics. B. public choice theory. C. rational expectations theory. D. social economics.
The following data relate to the supply schedule of a product.PriceQuantity Supplied$51001020015250203002535030500Using the regular percentage change formula, what is the price elasticity of supply when price increases from $15 to $20?
A. unit elastic B. perfectly elastic C. inelastic D. elastic
Economic fine-tuning is the (usually frequent) use of
A) monetary policy that is based on a predetermined steady growth rate in the money supply to counteract even small undesirable movements in economic activity. B) only fiscal policy to counteract even small undesirable movements in economic activity. C) monetary and fiscal policies to counteract even small undesirable movements in economic activity. D) fiscal policy that both balances the budget and counteracts even small undesirable movements in economic activity.
The earned income tax credit addresses the issue of ______
Fill in the blank(s) with the appropriate word(s).