Expansionary fiscal policy is so named because it:
A. involves an expansion of the nation's money supply.
B. necessarily expands the size of government.
C. is aimed at achieving greater price stability.
D. is designed to expand real GDP.
D. is designed to expand real GDP.
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The poverty line in the United States
A. last changed in 1980. B. never changes. C. changes with the level of inflation and family size. D. changes with the minimum wage.
If the production possibilities curve is a straight line,
a. opportunity costs rise as output of either commodity is expanded. b. resources are not equally productive in the production of both goods. c. opportunity costs are negative. d. resources can be moved from the production of one good to production of others with no loss of productivity.
Rent seeking is a way of earning profit without adding to the product's value
a. True b. False Indicate whether the statement is true or false
When a market is monopolistically competitive, the typical firm in the market is likely to experience a
a. positive profit in the short run and in the long run. b. positive or negative profit in the short run and a zero profit in the long run. c. zero profit in the short run and a positive or negative profit in the long run. d. zero profit in the short run and in the long run.