Fiscal policy is the use of taxes and spending by the government to affect aggregate demand
a. True
b. False
Indicate whether the statement is true or false
True
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The new growth theory asserts that
A) eventually people earn only a subsistence living. B) a discovery can be used by only one person, the discoverer. C) technology improves slowly while population grows rapidly. D) production processes can be replicated at many different firms in the economy. E) the population growth rate will increase when real GDP per person increases.
An important determinant of a nation's standard of living in the long run is its net exports
Indicate whether the statement is true or false
Non-Exclusive Tag
What will be an ideal response?
When is demand perfectly elastic? When is demand perfectly inelastic? What are the values of the price elasticity of demand when demand is perfectly elastic or perfectly inelastic? What do perfectly elastic and perfectly inelastic demand curves look like?
What will be an ideal response?