The Ricardian equivalence theorem states that
A) spending on national defense is a direct expenditure offset.
B) an increase in government spending by the federal government leads to offsetting reductions in state government spending.
C) government spending financed by taxes is equivalent to government spending financed by borrowing.
D) an increase in government spending financed by higher taxes has no effect on aggregate demand.
C
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Inequality in the distribution of income in the United States today arises primarily from
A) the collapse of the government's income support system. B) the highly unequal distribution of corporate wealth. C) the tax system. D) the weakness of labor unions. E) unequal abilities to supply valuable human services.
An increase in the amount of resources would shift the long-run aggregate supply curve:
A) rightward. B) leftward. C) no shift. D) none of the above.
Usury laws
a. limit the use of land to the production of only certain farm goods b. establish price ceilings on interest rates c. establish price floors on interest rates d. protect consumers from the excessive market power of the large agribusinesses who dominate many farm markets e. set the parity pricing ratios
A union contract requiring elevator operators in a building with automatic elevators is an example of
A) a closed shop. B) featherbedding. C) a lockout. D) a right-to-work requirement.