Refer to the above figure. Suppose the economy is at point A. By the proper use of fiscal policy, the government can
A) boost taxes to shift LRAS through point A.
B) increase government spending to get the economy to point B.
C) raise income tax rates to get the economy to point C.
D) reduce government spending to get the economy to point D.
B
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As populations age, public spending tends to increase
Indicate whether the statement is true or false
Refer to the payoff matrix below. Which of the following is true for Bright Lights?
A) They do not have a dominant strategy.
B) Their pure strategy is to set a Low Price.
C) Their pure strategy is to set a High Price.
D) They do not have a pure strategy.
In the short run:
A. the firm is free to change the amount of capital it uses. B. all inputs are variable. C. there are no variable inputs. D. at least one input is fixed.
Which of the following is likely to have the most price inelastic demand?
a. lattés b. filet mignon c. Grey Goose® vodka d. milk