By adjusting its spending level, the government can try to achieve target employment and GDP levels through
a. countercyclical monetary policy
b. buying bonds on the open market
c. shifting the Phillips curve
d. wage and price controls
e. countercyclical fiscal policy
E
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The table below shows how total donations, average donations, total labor costs and average labor costs vary depending on the number of employees State U hires for its fundraising activities.Number of EmployeesTotal DonationsAverage DonationsTotal Labor CostsAverage Labor Costs1$30,000 $8,0002$42,426 $17,000 3 $17,321$27,000 4$60,000 $9,5005 $13,416$50,000 The total value of donations raised by three employees is:
A. $48,911. B. $51,963. C. $43,899. D. $45,000.
Perfectly inelastic demand means that consumers
A) are willing to buy any quantity of the good at a given price, but none at higher prices. B) decrease their consumption as price rises. C) increase their consumption as price rises. D) will buy a certain quantity, regardless of price. E) will buy a huge, almost infinite amount more, if the price falls just a little.
One of the primary objectives of the WTO is:
a. to create trade restrictions across the countries. b. to reduce trade barriers created by the different countries. c. to enable certain countries to maintain their autarkic conditions. d. to enable the western countries to emerge as major players in the international trade. e. to redistribute wealth from the first world to the third world countries.
The graphical result of a binding price ceiling is:
a. quantity demanded at the price ceiling exceeds the amount at the equilibrium price, and quantity supplied is less than the amount at the equilibrium price. b. quantity supplied at the price ceiling exceeds the amount at the equilibrium price, and quantity demanded is less than the amount at the equilibrium price. c. quantity demanded and quantity supplied at the price ceiling are equal at the equilibrium price. d. quantity demanded at the price ceiling is less than the amount at the equilibrium price, and quantity supplied is also less than the amount at the equilibrium price