The largest expenditure component of U.S. GDP is:
A. investment.
B. exports.
C. government purchases.
D. consumption.
Answer: D
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When a home builder decides to computerize all of its production schedules, it directly answers the ________ question
A) why B) what C) where D) for whom E) how
Refer to Table 8-18. What is the GDP deflator in 2016 if 2016 is the base year?
A) 120 B) 118 C) 100 D) 87
Government programs that automatically shift the government budget toward a deficit during recessions and a surplus during recoveries are called:
a. discretionary fiscal policy. b. automatic stabilizers. c. progressive taxation. d. price deflators.
Under a negative income tax program,
A. the government guarantees a minimum level of family income. B. a family must pay income taxes on its welfare check. C. a family receives a stated amount of money from the government plus its members can keep all income earned through work. D. the government reduces the welfare payment by any income earned through work.