A supply-side economist would stress which of the following attributes of fiscal policy?
a. the impact of marginal tax rates on the supply and productivity of resources
b. the impact of government spending on aggregate demand, output, and employment
c. the impact of budget deficits on interest rates and aggregate demand
d. the impact of budget deficits on the rate of taxation in the future
A
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Monetarists believe in all of the following except
a. steady growth in inflation will yield stable output. b. steady growth in the money supply will yield stable output. c. fluctuations in the money supply are responsible for business cycles. d. the Fed should not be involved in trying to stabilize the economy.
As a scientist, an economist's main professional objective is to
a. become wealthy b. control the government's decision-making processes c. understand how the economy works d. discover which stock prices will decrease e. understand the psychology of participants in markets
What is the difference between multilateral aid and bilateral aid?
a. Multilateral aid is country to country, and bilateral aid comes from organizations using funds from many countries. b. Multilateral aid comes from organizations using funds from many countries, and bilateral aid is country to country. c. Multilateral aid is country to country, and bilateral aid comes from philanthropic organizations. d. Multilateral aid comes from philanthropic organizations, and bilateral aid comes from organizations using funds from many countries.
Economists Novy-Marx and Rauh contend that
A. cities are in fine shape with regard to their pension liabilities, but that states are not. B. states and cities are in poor shape with regard to their pension liabilities. C. states are in fine shape with regard to their pension liabilities, but that cities are not. D. states and cities are in fine shape with regard to their pension liabilities.