Advocates of fixed rules believe that politicians focus more on reelection than on sound policy.
Answer the following statement true (T) or false (F)
True
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Need-based spending ________ during an expansion and ________ during a recession, which leads to larger budget deficits during the ________ phase of the business cycle
A) increases; decreases; recession B) decreases; increases; expansion C) decreases; increases; recession D) decreases; decreases; expansion E) increases; decreases; expansion
For corporate taxes, the lowest tax bracket is
A. 9 percent. B. 12 percent. C. 15 percent. D. 22 percent.
Which of the following combinations would have an indeterminate effect on the size of the money supply?
a. an increase in the percentage of money people want to hold as currency and a decrease in the fraction of deposits banks want to hold as excess reserves b. an increase in the percentage of money people want to hold as currency and an increase in the fraction of deposits banks want to hold as excess reserves c. a decrease in the percentage of money people want to hold as currency and a decrease in the fraction of deposits banks want to hold as excess reserves d. none of the above
The U.S. federal government collects about one-half of the taxes in our economy
a. True b. False Indicate whether the statement is true or false