Contractionary fiscal policy _____
Fill in the blank(s) with the appropriate word(s).
is used to close an expansionary gap.
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Explain how the real wage and the extra output produced by each worker determine the quantity of labor demanded by a firm
What will be an ideal response?
How will the new federal government's new national health care program be funded?
A) The federal government will charge all participants of health insurance exchanges 3.8%. B) Firms with at least 50 employees must pay an annual fine of up to $750 per employee regardless of coverage. C) A tax rate of 3.8 percent will be assessed on nearly all earnings above $200,000 per year for individuals and above $250,000 per year for married couples. D) Nearly all U.S. residents will pay a fine of up to $750 per year for an individual (up to $2,250 per year for a family) regardless of coverage.
The Taylor Rule specifies that the federal funds rate target should be equal to
A) 0.5 ( inflation rate) + 1.5 (GDP gap) + 1 B) 1.5 (inflation rate) + 0.5 (GDP gap) + 1. C) interest rate - expected inflation rate. D) equilibrium federal funds rate + inflation rate +1
The “War on Poverty” was declared by President Ronald Reagan in 1982.
Answer the following statement true (T) or false (F)