Fiscal policy is determined by
A) Congress and the Federal Reserve. B) Congress and the president.
C) the president and the Federal Reserve. D) the Federal Reserve.
B
You might also like to view...
Answer the following statement(s) true (T) or false (F)
1. When an increase in marginal productivity increases workers' nonlabor income, the effect on the quantity of labor supplied is ambiguous. 2. A permanent increase in workers' marginal productivity causes employment to rise by more than if the increase were temporary. 3. A technological improvement that is permanent is more likely to raise employment than one that is temporary. 4. Education is partly investment but also partly consumption. 5. All other things being equal, firms that provide on-the-job training to workers will tend to pay higher wages.
If your marginal rate of substitution between two goods diminishes continuously as you give up one good for the other, that means the
A) price per unit of one good declines when you buy it in larger and larger quantities. B) two goods are perfect substitutes. C) two goods are perfect complements. D) two goods are neither perfect substitutes nor perfect complements.
The quantity that a firm will supply in the short run
A. can be read from its average cost curve. B. can be read from its average variable cost curve. C. can be read from the firm’s marginal cost curve above average variable cost. D. is always zero above minimum average variable cost.
An advantage of transfer payments over public works as a means of reducing unemployment is that transfer payments
a. provide more direct aid to those suffering most from unemployment. b. are unlikely to decrease unintended excess inventories of consumer goods. c. generate more secondary and tertiary employment. d. tend to have a larger multiplier effect.