During the Great Recession the fiscal policy measures taken to exit the recession was
A. raise taxes and run budget deficits.
B. raise taxes and run budget surpluses.
C. lower taxes and run budget surpluses.
D. lower taxes and run budget deficits.
D. lower taxes and run budget deficits.
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Empirical evidence suggests that economies of scale, advertising and image differentiation, and risk spreading all help account for the large-scale production that exists in many sectors of the economy
Indicate whether the statement is true or false
Refer to Scenario 14.3. What is the marginal profit from hiring the third unit of labor?
A) 30 B) 65 C) 85 D) 225 E) none of the above
How much would be added to this year's GDP if you sold your four-year-old automobile for $4,000 and purchased a two-year-old model from an acquaintance for $10,000
a. nothing b. $6,000 c. $10,000 d. $14,000
The factor of production called "capital" refers to:
A. any input that's not a human being or dirt. B. any piece of raw material that is used to produce goods and services. C. the amount of money a firm has access in order to run its business. D. manufactured goods that are used to produce new goods.