Which of the following is an example of a positive economic statement?
A) The U.S. public should devote more resources to education.
B) The poor should pay lower taxes and the rich should pay higher taxes.
C) Soap operas should be taken off television.
D) If you drop a ball from the top of a building, it will fall to the ground.
D
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During normal times, discretionary fiscal policy
A) is probably not very effective in influencing real GDP due to time lags. B) is more effective in influencing real GDP than automatic stabilizers. C) works well because there are no lag problems in influencing real GDP. D) is more effective in influencing real GDP than at times of a recession.
On the "supply side" of a market, producers indicate to consumers what they are willing to sell, in what quantity and at what price
Indicate whether the statement is true or false
Computers and insurance coverage produced in the United States and sold to people in other nations are categorized as
A) U.S. imports of goods and services. B) U.S. exports of goods and services. C) U.S. consumption goods and services. D) foreign capital goods. E) U.S. government goods and services.
The time it takes to recognize a recession and implement a spending stimulus is called a
A. fiscal drag. B. multiplier. C. retroactivity. D. lag.