A discretionary fiscal policy is a fiscal policy that...
What will be an ideal response?
requires action by the Congress
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Briefly explain the command-and-control approach in dealing with an externality such as pollution. Give an example of the U.S. government using the command-and-control approach to deal with the pollution problem
What will be an ideal response?
Why do cartels tend to break up?
What will be an ideal response?
The way income is allocated among the population is called the
A) income curve. B) income spread. C) distribution of income. D) Gini allocation.
When the price elasticity of demand is small in magnitude, a _____ increase in the price leads to a _____ reduction in the amount purchased and the demand curve is relatively ____.
A. slight; substantial; steep B. slight; slight; flat C. large; slight; steep D. slight; substantial; flat