Homework Answers
Ans: the standardized employment budget.
Explanation:
When an economy is not at full employment, it can produce the output which is less than potential output.
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If the economy is producing less than its potential GDP, will show a smaller deficit than...
1. A country’s government should ________ when inflation begins to climb to unacceptable levels in the...
1. A country’s government should ________ when inflation begins to climb to unacceptable levels in the economy. A. shift aggregate demand to the right by using contractionary fiscal policy B. shift aggregate demand to the right by using expansionary fiscal policy C. shift aggregate demand to the left by using expansionary fiscal policy D. shift aggregate demand to the left by using contractionary fiscal policy 2. If the economy is producing less than its potential GDP, ________ will show a...
16. When output deviates from potential GDP, automatic stabilizers work to push the economy through the...
16. When output deviates from potential GDP, automatic stabilizers work to push the economy through the work of automatic stabilizers. Give two examples of automatic stabilizers. 17. Crowding out effect: what does it mean? 18. Distinguish between public debt and budget deficit. 19. Mention which of the two output gap occurs in the following cases: recessionary gap or inflationary gap? a. the economy is creating less output than its potential b. the economy is creating more output than its potential
When an economy experiences a recession, it is producing -potential Real GDP -less than potential Real...
When an economy experiences a recession, it is producing -potential Real GDP -less than potential Real GDP -less or more than potential REAL GDP. it depends on the cause of the recession.
for: 18., and 19. 16. When output deviates from potential GDP, automatic stabilizers work to push...
for: 18., and 19.
16. When output deviates from potential GDP, automatic stabilizers work to push the economy through the work of automatic stabilizers. Give two examples of automatic stabilizers. 17. Crowding out effect: what does it mean? 18. Distinguish between public debt and budget deficit. 19. Mention which of the two output gap occurs in the following cases: recessionary gap or inflationary gap? a. the economy is creating less output than its potential b. the economy is creating more...
Discretionary fiscal policy is handicapped by A. automatic stabilizers, law−making time lags, and potential GDP estimation....
Discretionary fiscal policy is handicapped by A. automatic stabilizers, law−making time lags, and potential GDP estimation. B. automatic stabilizers and induced taxes. C. induced taxes and automatic stabilizers. D. economic forecasting, law minus −making time lags, and induced taxes. E. law minus −making time lags, estimation of potential GDP, and economic forecasting.
for: 16. 17. 18. 19. 16. When output deviates from potential GDP, automatic stabilizers work to...
for:
16.
17.
18.
19.
16. When output deviates from potential GDP, automatic stabilizers work to push the economy through the work of automatic stabilizers. Give two examples of automatic stabilizers. 17. Crowding out effect: what does it mean? 18. Distinguish between public debt and budget deficit. 19. Mention which of the two output gap occurs in the following cases: recessionary gap or inflationary gap? a. the economy is creating less output than its potential b. the economy is creating...
The graph shows an economy below full employment. To restore full employment, the government incr...
The graph shows an economy below full employment. To restore full employment, the government increases government expenditure by $0.5 trillion. Draw a curve to show the effect of the increase if it is the only change in spending plans. Label the curve ADo AE Price level (GDP price index, 2009-100) Potential GDP The increase in government expenditure sets off a multiplier process. Draw a curve that shows the multiplier effect that returns the economy to full employment. Label it AD,...
Econ HW, please help! UTION # FISCAL POLICY NAME the mix of government spending and taxing...
Econ HW, please help!
UTION # FISCAL POLICY NAME the mix of government spending and taxing in order to balance the Fiscal policy is best defined as: uncontrolled government spending, altering the mix of govern budget every fiscal year. changes in govern macroeconomic goals. vernment spending and taxing for the purpose of achieving certain minimizing government expenditures over the fiscal year. , while reases in government spending and lower taxes represent decreases in government spending and higher taxe contractionary fiscal...
QUESTION 1 Which of the following is an example of an automatic fiscal policy stabilizer? a....
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....
Suppose the economy had been producing at potential GDP but now is in recession. Which of...
Suppose the economy had been producing at potential GDP but now is in recession. Which of the following are discretionary fiscal policies that coul bring the economy closer to potential GDP? Check all that apply. A tax hike A tax cut O A reduction in government purchases Additional spending on national park facilities
16. When output deviates from potential GDP, automatic stabilizers work to push the economy through the work of automatic stabilizers. Give two examples of automatic stabilizers. 17. Crowding out effect: what does it mean? 18. Distinguish between public debt and budget deficit. 19. Mention which of the two output gap occurs in the following cases: recessionary gap or inflationary gap? a. the economy is creating less output than its potential b. the economy is creating more output than its potential
for: 18., and 19.
16. When output deviates from potential GDP, automatic stabilizers work to push the economy through the work of automatic stabilizers. Give two examples of automatic stabilizers. 17. Crowding out effect: what does it mean? 18. Distinguish between public debt and budget deficit. 19. Mention which of the two output gap occurs in the following cases: recessionary gap or inflationary gap? a. the economy is creating less output than its potential b. the economy is creating more...
for:
16.
17.
18.
19.
16. When output deviates from potential GDP, automatic stabilizers work to push the economy through the work of automatic stabilizers. Give two examples of automatic stabilizers. 17. Crowding out effect: what does it mean? 18. Distinguish between public debt and budget deficit. 19. Mention which of the two output gap occurs in the following cases: recessionary gap or inflationary gap? a. the economy is creating less output than its potential b. the economy is creating...
The graph shows an economy below full employment. To restore full employment, the government increases government expenditure by $0.5 trillion. Draw a curve to show the effect of the increase if it is the only change in spending plans. Label the curve ADo AE Price level (GDP price index, 2009-100) Potential GDP The increase in government expenditure sets off a multiplier process. Draw a curve that shows the multiplier effect that returns the economy to full employment. Label it AD,...
Econ HW, please help!
UTION # FISCAL POLICY NAME the mix of government spending and taxing in order to balance the Fiscal policy is best defined as: uncontrolled government spending, altering the mix of govern budget every fiscal year. changes in govern macroeconomic goals. vernment spending and taxing for the purpose of achieving certain minimizing government expenditures over the fiscal year. , while reases in government spending and lower taxes represent decreases in government spending and higher taxe contractionary fiscal...
Suppose the economy had been producing at potential GDP but now is in recession. Which of the following are discretionary fiscal policies that coul bring the economy closer to potential GDP? Check all that apply. A tax hike A tax cut O A reduction in government purchases Additional spending on national park facilities
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