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The mayor of your hometown has said she will request that the federal government extend a...
1. Government spending required by laws other than appropriation acts is also known as what? a. Budget spending b. Mandatory spending c. Discretionary spending d. Deficit spending 2. Which of the following statements is true? a. Mandatory spending is determined by law and discretionary spending is determined by appropriation acts. b. Discretionary spending is determined by the president with advice from Congress, and mandatory spending is determined by the Supreme Court. c. Neither mandatory nor discretionary spending can be changed....
Suppose that President Trump cuts federal income taxes, and at the same time decreases government spending on schools and the environment. If the two actions offset each other exactly such that the fall in T = the fall in G, what will be the impact on U.S. output? Use the AA-DD model in your analysis. In fact, according to current analyses, is the federal budget deficit expected to increase or decrease in FY2020? When was the last time the U.S....
QUESTION 1 Which of the following is an example of an automatic fiscal policy stabilizer? a. Tax revenues fall as real GDP decreases. b. Congress decides to cut spending on national defense. c. Congress cuts individual income tax rates. d. Tax revenues rise after Congress raises corporate tax rates. QUESTION 7 When a country's economy is producing at a level that is less than its potential GDP, the standardized employment deficit will show a ________ than the actual deficit. a....
For each of the following scenarios, use supply and demand analysis to predict the resulting changes in the real interest rate, national saving, and investment. Show all your diagrams. (LO6) a. The legislature passes a 10 percent investment tax credit. Under this program, for every $100 that a firm spends on new capital equipment, it receives an extra $10 in tax refunds from the government b. A reduction in military spending moves the government's budget from deficit into surplus. c....
Related to the Economics in Practice Federal government expenditures and receipts for the simple economy of the nation of Topanga are listed in the table below. The government of Topanga would like to reduce the debt-to-GDP ratio, and the Finance Minister of Topanga has proposed the following: "The best way to reduce the debt-to-GDP ratio is to increase GDP, because with a larger GDP, the ratio will have to get smaller. I therefore propose that government expenditures be increased by...
For this discussion activity, you will get insight into the federal budgeting process and how key allocation decisions are made. As part of that effort, you will work through the National Budget Simulation in an effort to achieve a budget deficit of $1400B dollars. Scenario: The President of the United States has been elected on the promise of fiscal responsibility as a key mandate of the electorate. By law, he cannot reduce the net interest paid on the debt. The...
M Search resuts x Deadiine 1: Janu XI Take Test Unit Test 1-201 981 x aa American 1125061 1&co QUESTION 1 What event led the Founders to realize that the Articles of Confederation were inadequate? O a slave revolt in South Carolina O the Boston Massacre O Shays Rebelilion O the Rhode Island Revolution QUESTION 2 According to Madison, what must be made to counteract ambition ? o mitary power O political authority O public opinion O ambition QUESTION 3...
1. When it comes to financial matters, the views of Aristotle can be stated as: a. usury is nature’s way of helping each other. b. the fact that money is barren makes it the ideal medium of exchange. c. charging interest is immoral because money is not productive. d. when you lend money, it grows more money. e. interest is too high if it can’t be paid back. 2. Since 2008, when the monetary base was about $800 billion,...