Fiscal restraint is defined as
A. Tax cuts or spending hikes intended to reduce aggregate demand.
B. Tax cuts or spending hikes intended to increase aggregate demand.
C. Tax hikes or spending cuts intended to reduce aggregate demand.
D. Tax hikes or spending cuts intended to increase aggregate demand.
Answer: C
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The point of maximum profit for a business firm is where:
a. P = AC. b. TR = TC. c. MR = AR. d. MR = MC. e. TR = MR.
Studies confirm that controlling for other variables such as the percentage of GDP devoted to investment, poor countries tend to grow at a faster rate than rich countries
a. True b. False Indicate whether the statement is true or false
A minimum wage that is less than the prevailing market wage will:
A. have no effect on the market. B. increase unemployment. C. increases wages. D. reduce wages.
If you are willing to purchase a house for $300,000 and you purchase the house for $275,000 . this transaction will generate:
a. There is no surplus created b. $25,000 worth of seller surplus and unknown amount of buyer surplus c. $10,000 worth of buyer surplus and $15,000 of seller surplus d. $25,000 worth of buyer surplus and unknown amount of seller surplus