A tax on an imported good is called a
a. quota.
b. tariff.
c. supply tax.
d. trade tax.
b
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Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
Policymaking that is carried out in response to a rule is
A. determined policymaking. B. restrictive policymaking. C. passive policymaking. D. active policymaking.
Which of the following models focuses on how productivity shocks explain fluctuations in real GDP?
A) the monetarist model B) the new classical model C) the real business cycle model D) the new Keynesian model
Of the administrative costs for the SNAP program,
A. federal, state, and local governments split the costs evenly. B. states bear 50 percent of the costs. C. 100 percent are paid out of federal tax revenues. D. states pay 100 percent.