If you are told that the government had an actual budget deficit of $50 billion, then you would:
A. Know that fiscal policy was expansionary
B. Know that fiscal policy was contractionary
C. Know that fiscal policy was producing a cyclical deficit
D. Not be able to determine the direction of fiscal policy from the information given
D. Not be able to determine the direction of fiscal policy from the information given
You might also like to view...
If two investments are uncorrelated:
A. there is no benefit from diversification. B. there is no benefit to hedging. C. diversification reduces risk without changing the expected payoff. D. diversification reduces both risk and the expected payoff.
________ occurs when a person acquires more detailed knowledge and develops more memory and experience, has contacts with others in the same field of endeavor
a. Expertise b. Novice ability c. Intermediate effort d. Prodigy
If autonomous consumption is greater than zero and the marginal propensity to consume is greater than zero, but less than one, the consumption function will first be below and then above the 45 degree line
a. True b. False Indicate whether the statement is true or false
An economic slow-down would cause the labor:
A. supply curve to shift left. B. supply curve to shift right. C. demand curve to shift left. D. demand curve to shift right.