Fiscal policy is implemented by
A) the central bank.
B) private businesses.
C) the Internal Revenue Service.
D) the federal government.
D
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An increase in demand will cause the equilibrium price and quantity to rise, ceteris paribus
Indicate whether the statement is true or false
The first step in gradualism is
a. the privatization of larger industrial sectors b. the phasing out of money-losing enterprises c. large industrial enterprises quickly finding market-clearing prices d. the thriving of small-scale capitalism e. state-owned enterprises running more like businesses to maximize profit
If the economy were in the Classical range of the aggregate supply curve, government policies and central bank actions should focus primarily on:
a. reducing unemployment. b. increasing government spending to boost demand. c. keeping inflation reasonably low. d. preventing deflation. e. All of the above.
In economic analysis, the optimal level of pollution
A. is always zero. B. arises at the point at which the marginal benefit from further reduction equals the marginal cost of further reduction. C. should be determined by the private market without any government intervention. D. occurs at the point at which demand crosses the private cost supply curve.