Which of the following contributed to the positive output ratio experienced in the 1960s?
A) decreased government spending
B) tax decreases
C) favorable oil price shocks
D) favorable farm price shocks
B
You might also like to view...
Which of the following is a fixed percentage of the value of an imported product?
A) specific tariff B) ad valorem tariff C) nominal tariff D) effective protection tariff E) infant industry tariff
A venture capital fund wants to invest $1000 in each of one thousand mad scientists
The first scientist applying to the fund is working on the legendary pill that turns water into gasoline, and the second scientist is working on the even more legendary perpetual motion machine. The smart venture capitalist here will A) back the pill and look for 999 other scientists working on the same pill. B) back the machine and look for 999 other scientists working on the same machine. C) look for 500 scientists working on the pill and 500 working on the machine. D) back the pill, the machine, and 998 other different projects.
If the government were to reduce its spending, it would be enacting:
A. contractionary fiscal policy. B. expansionary fiscal policy. C. a budgetary crisis intervention. D. expansionary budgetary policy.
Refer to Figure 6.1. Assume that L1 represents the budget line before a price change. The income effect is shown by the movement:
A. from bundle A to bundle C.
B. from bundle A to bundle B.
C. from bundle B to bundle C.
D. from bundle C to bundle B.