When changes to taxes and spending occur in the economy without explicit action by the Federal government, such policy is:
Discretionary fiscal policy refers to:
Fiscal policy refers to the:
Which are contractionary fiscal policies?
Expansionary fiscal policy is so named because it:
Contractionary fiscal policy is so named because it:
In an aggregate demand and aggregate supply graph, an expansionary fiscal policy can be illustrated by a:
Which combination of fiscal policy actions would be most stimulative for an economy in a deep recession?
As the economy declines, the collection of personal income tax revenues automatically falls. This relationship best describes how the progressive income tax system:
Which is an example of an automatic stabilizer? As real GDP decreases, income tax revenues:
Automatic stabilizers smooth fluctuations in the economy because they produce changes in government's deficit that:
One advantage of automatic fiscal policy over discretionary fiscal policy is that automatic fiscal policy:
Which is regarded as an automatic stabilizer in the economy?
One timing problem with fiscal policy to counter a recession is a recognition lag that occurs between the:
One timing problem with fiscal policy to counter a recession is an administrative lag that occurs between the:
The crowding-out effect works through interest rates to:
A Federal budget deficit exists when:
A budget surplus means that:
A person states that: A large public debt will bankrupt the United States government. An economist is likely to respond:
Which is an important consequence of the public debt of the United States?
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