The federal government can fund financially strained programs by
(a) Decreasing taxes
(b) Increasing funding across all programs
(c) Destroying money
(d) Issuing U.S. Treasury bonds
(d)
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A consequence of a negative externality is that social costs __________ private costs, and the efficient level of output __________.
A. equal; does not require any type of government intervention B. are less than; requires the government to create a subsidy C. are greater than; requires the government to impose a tax D. are greater than; requires the government to create a subsidy E. are less than; requires the government to impose a tax
Refer to Scenario 13.1. Your negotiations are an example of:
A) a noncooperative game. B) a cooperative game. C) a constant sum game. D) a competitive game. E) both B and C
A tax on cigarettes:
A. increases total surplus. B. increases efficiency in the market. C. will increase both total surplus and efficiency in the market. D. like any tax, will always reduce surplus and efficiency in markets.
According to the quantity theory of money:
a. the velocity of money is highly variable. b. the money supply directly affects real GDP. c. the money supply inversely affects velocity. d. real GDP increases as the price level increases. e. P = MV/Q.