"Any tax cut to increase demand for output should favor lower-income people" is a ________ statement about ________ policy.
A. normative; monetary
B. normative; fiscal
C. positive; monetary
D. positive; fiscal
Answer: B
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How does an increase in the price level result in higher interest rates?
A) It increases the real money supply. B) It decreases the real money supply. C) It increases the real money demand. D) It decreases the real money demand.
When the price level increases, the effect of a change in government spending on real GDP will be understated
a. True b. False Indicate whether the statement is true or false
A nationally chartered bank is a commercial bank that receives its charter from the Comptroller of the Currency and is subject to both federal law and the laws of the state in which it operates
Indicate whether the statement is true or false
The more elastic the demand for a good, the smaller the deadweight loss from the tax imposed on the good
a. True b. False Indicate whether the statement is true or false