The presence of the automatic stabilizers means an increase in the budget deficit will be automatically experienced during an economic expansion whereas a budget surplus will be automatically experienced during a recession
a. True
b. False
Indicate whether the statement is true or false
False
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The JOBS program was generously funded
Indicate whether the statement is true or false
If total utility is positive, marginal utility must also be positive
Indicate whether the statement is true or false
The aggregate quantity of goods and services demanded changes as the price level falls because
a. real wealth falls, interest rates rise, and the dollar appreciates. b. real wealth falls, interest rates rise, and the dollar depreciates. c. real wealth rises, interest rates fall, and the dollar appreciates. d. real wealth rises, interest rates fall, and the dollar depreciates.
Which of the following will cause the LM curve to shift down?
A) a reduction in the expected future interest rate B) a reduction in current income C) a reduction in expected future taxes D) all of the above E) none of the above