According to the Application, economist John B. Taylor found that the temporary tax cuts which were a part of the 2009 stimulus package
A) were primarily used to pay off home mortgage balances.
B) were split very evenly between consumption spending and household saving.
C) were very successful in stimulating consumption spending.
D) did very little to stimulate consumption spending.
D
You might also like to view...
In the long run, the level of output depends on the price level
Indicate whether the statement is true or false
Most favored nation (MFN) status means that a country treats another country
A) better than its other trading partners. B) the same as its other trading partners. C) worse than its other trading partners. D) any way it chooses since it is the "most favored nation." E) None of the above.
The upward and downward movement of aggregate output produced in the economy is referred to as the
A) roller coaster. B) see saw. C) business cycle. D) shock wave.
The owner of a produce store found that when the price of a head of lettuce was raised from 50 cents to $1, the quantity sold per hour fell from 18 to 8. The arc elasticity of demand for lettuce is
A) -0.56. B) -1.15. C) -0.8. D) -1.57.