Active changes in tax and spending by government intended to smooth out the business cycle are called ________, and changes in taxes and spending that occur passively over the business cycle are called ________
A) automatic stabilizers; discretionary fiscal policy
B) discretionary fiscal policy; automatic stabilizers
C) automatic stabilizers; monetary policy
D) discretionary fiscal policy; conscious fiscal policy
Answer: B
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Which of the following is the term used to describe the expansion of a country's per capita real GDP?
A) change in factor incomes B) change in the labor force C) technological change D) economic growth
The largest source of federal government revenue is
a. corporate income taxes b. individual income taxes c. payroll taxes d. sales and excise taxes e. tariffs on imported goods and other customs fees and duties
In the short run, all costs are variable
a. True b. False Indicate whether the statement is true or false
In the money market, an increase in money supply will _____
Fill in the blank(s) with the appropriate word(s).