It is relatively easy to prescribe a cure for financial crises that result from inconsistent macroeconomic policies
Indicate whether the statement is true or false
TRUE
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Which of the following is false?
a. Expansionary fiscal policy will tend to cause net exports to fall b. The larger the crowding out effect, the smaller the actual effect of a given change in fiscal policy. c. The crowding out effect does not occur with a tax change. d. Starting from an initial recession equilibrium, expansionary fiscal policy could potentially increase employment to the full employment level.
A substantial revision of the income tax code that made business and personal tax returns much easier to complete would tend to cause which of the following changes in the labor market for accountants?
a. an increase in the demand for accountants b. an increase in the employment of accountants c. a decrease in the wage rate of accountants d. an increase in the number of students choosing to major in accounting
Costs of production that do not change with the rate of output are:
a) Nonexistent. b) Marginal costs. c) Variable costs. d) Fixed costs.
Generally speaking, the government implements fiscal policy in a:
A. fast but inaccurate manner. B. slow but accurate manner. C. slow and inaccurate manner. D. fast and accurate manner.