When the government deliberately alters its level of spending and/or taxes in order to achieve specific national economic goals, it is exercising
A. automatic government budgetary policy.
B. a laissez-faire policy.
C. discretionary fiscal policy.
D. monetary policy.
Answer: C
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Some economists argue that the productivity slowdown of the mid-1970s to the mid-1990s was due to changes in oil prices that
A) increased production costs, causing firms to reorganize production to conserve energy, which reduced output per worker. B) decreased production costs, causing firms to reorganize production to conserve energy, which reduced output per worker. C) increased production costs, causing firms to reorganize production to conserve energy, which increased output per worker. D) decreased production costs, causing firms to increase production, which reduced output per worker.
Which graph in the above figure represents the isoquants where, as the amount of labor used increases and the amount of capital used decreases, the marginal product of labor rises
(units of capital per day is on the vertical axis and units of labor per day is on the horizontal axis)? A) Graph A B) Graph B C) Graph C D) Graph D
A person who is in a 31 percent marginal tax bracket and has a total taxable income of $100,000 will owe $31,000 in taxes
a. True b. False Indicate whether the statement is true or false
Who from among the following is counted as employed?
A. Frank would like to work, but has not looked for work because he believes no jobs are available. B. Ray wants to work forty hours per week, but can only find work for twenty hours per week. C. Martin has been offered several jobs in the past four weeks, but has chosen not to accept any of the offers. D. Anna Marie spends all of her time taking care of her children at home.