If the federal government wishes to move the economy out of a recessionary gap, the appropriate fiscal policy is a(n)
a. increase in taxes.
b. decrease in government purchases.
c. decrease in transfer payments.
d. None of the above are correct.
d
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A company's computer is classified as what account type
a. Expense b. Owner's Equity c. Fixed Asset d. Retained Earnings
Based on the table above which shows Chip's costs, if Chip shuts down in the short run, his total cost will be
A) $0. B) $1,000. C) $1,200. D) $4,000.
The combination of a successful wage push by workers and the government's commitment to high employment leads to
A) demand-pull inflation. B) supply-side inflation. C) supply-shock inflation. D) cost-push inflation.
For a good that is a necessity,
a. quantity demanded tends to respond substantially to a change in price. b. demand tends to be inelastic. c. the law of demand does not apply. d. All of the above are correct.