A $300 billion decrease in both government spending and taxes will
A) decrease GDP by less than $300 billion. B) decrease GDP by more than $300 billion.
C) not change the level of GDP. D) decrease GDP by $300 billion.
D
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If the interest rate increases, the
A) money demand curve will shift to the left. B) quantity of money demanded will remain unchanged. C) quantity of money demanded will fall. D) money demand curve will shift to the right.
If you dump trash in a vacant lot despite regulations against it, then you are
A) saving landfill space and creating a social benefit. B) acting rationally and generating a positive externality. C) avoiding the private costs associated with disposing your trash some other way and creating a social cost. D) acting economically irrational and creating a social cost.
Define utility. What are individual units of utility called?
What will be an ideal response?
Other things the same, if the Fed increases the rate at which it increases the money supply then the short-run Phillips curve shifts right in the long run
a. True b. False Indicate whether the statement is true or false