Fiscal policy involves the actions of
A. business regulation to increase economic efficiency.
B. changing the exchange rate to discourage imports.
C. taxation and spending in an effort to address inflation and unemployment.
D. changing interest rates to stimulate private savings.
Answer: C
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If the federal budget has an actual budget surplus of $75 billion, but a cyclically adjusted budget surplus of $50 billion, then the economy must be above potential real GDP
Indicate whether the statement is true or false
Microeconomic models focus on the behavior of
a. all households, businesses, and government sectors at the same time b. the household sector as a whole c. individual households and business firms d. individual households, business firms, and government agencies e. the business and government sectors
A market in which businesses, households, and governments buy and sell national currencies is
A) the foreign exchange market. B) the currency exchange market. C) the money exchange market. D) the dollar exchange market.
________: a market structure in which there are a small number of sellers
Fill in the blank(s) with correct word