The stimulus plan adopted in 2009 by newly-elected President Obama consisted of
A. only tax cuts.
B. only attempts to shore up Medicaid, welfare, and unemployment programs.
C. only spending increases on newly-created federal programs.
D. roughly equal tax cuts and spending increases, with additional spending to shore up existing federal programs.
Answer: D
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The above figure shows the market for neckties after the government has imposed a tax. How much deadweight loss results from this tax?
A) $250.00 B) $200.00 C) $150.00 D) $50.00
If government regulations significantly increase the cost of operating within a particular market, one result is that
A) new firms are discouraged from entering the market. B) barriers to entry are nullified. C) a perfectly competitive market environment is encouraged. D) new firms are encouraged to enter the market.
Using the seasonal business cycle as your guide, during which quarter would you be most likely to expect an increase in your corporation's sales?
A. The first quarter of the year (January-March) B. The second quarter of the year (April-June) C. The third quarter of the year (July-September) D. The fourth quarter of the year (October-December)
Suppose the price of capital and labor remain constant. As a firm's expenditures for capital and labor increase, its isocost line
A) rotates outward on the Y-intercept. B) shifts in parallel to the original isocost line. C) rotates outward on the X-intercept. D) shifts out parallel to the original isocost line.