Economics (21st Edition)

Chapter 33

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The Council of Economic Advisers (CEA) is a group ... more

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The two options of fiscal policy to reduce the ... more

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Recessionary gap is the amount by which the actual... more

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A balanced budget implies that the government's ... more

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An increase in the budget deficit or a decrease in... more

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Cyclically adjusted budget is the difference ... more

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The problems of recognition lag, administrative ... more

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The absolute debt measures the total debt owed by ... more

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The interest payment is financed through taxes, ... more

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The increase in public debt because of increasing ... more

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The social security and Medicare payments are paid... more

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The inflationary output gap exists when current ... more

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The increase in government spending increases the ... more

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The autonomous decrease (increase) in the budget ... more

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The government spending is financed through ... more

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Crowding out occurs when an increase in the ... more

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The government spending should increase by $5 ... more

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The price level increases by 8%.It is a demand-... more

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The marginal tax rate is 0.2 for all the ... more

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The budget deficit is $40.The cyclically adjusted ... more

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The absolute size of public debt is $32 billion.... more

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The investment of $50 billion will be crowded out... more

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