Economics (21st Edition)
Verified Answer ✓
The Council of Economic Advisers (CEA) is a group ... more
Verified Answer ✓
The two options of fiscal policy to reduce the ... more
Verified Answer ✓
Recessionary gap is the amount by which the actual... more
Verified Answer ✓
A balanced budget implies that the government's ... more
Verified Answer ✓
An increase in the budget deficit or a decrease in... more
Verified Answer ✓
Cyclically adjusted budget is the difference ... more
Verified Answer ✓
The problems of recognition lag, administrative ... more
Verified Answer ✓
The absolute debt measures the total debt owed by ... more
Verified Answer ✓
Verified Answer ✓
The interest payment is financed through taxes, ... more
Verified Answer ✓
The increase in public debt because of increasing ... more
Verified Answer ✓
The social security and Medicare payments are paid... more
Verified Answer ✓
The inflationary output gap exists when current ... more
Verified Answer ✓
The increase in government spending increases the ... more
Verified Answer ✓
The autonomous decrease (increase) in the budget ... more
Verified Answer ✓
The government spending is financed through ... more
Verified Answer ✓
Verified Answer ✓
Crowding out occurs when an increase in the ... more
Verified Answer ✓
The government spending should increase by $5 ... more
Verified Answer ✓
The price level increases by 8%.It is a demand-... more
Verified Answer ✓
Verified Answer ✓
The marginal tax rate is 0.2 for all the ... more
Verified Answer ✓
The budget deficit is $40.The cyclically adjusted ... more
Verified Answer ✓
The absolute size of public debt is $32 billion.... more
Verified Answer ✓
The investment of $50 billion will be crowded out... more