03 Jun Question Question 1.1.(TCO 6) Discretionary fiscal policy refers to (Points : 1)
Question
Question 1.1.(TCO 6) Discretionary fiscal policy refers to (Points : 1)
any change in government spending or taxes that destabilizes the economy.
the authority that the President has to change personal income tax rates.
intentional changes in taxes and government expenditures made by Congress to stabilize the economy.
the changes in taxes and transfers that occur as GDP changes.
Question 2.2.(TCO 6) Suppose that the economy is in the midst of a recession. Which of the following policies would most likely end the recession and stimulate output growth?(Points : 1)
A Congressional proposal to incur a Federal surplus to be used for the retirement of public debt.
Reductions in agricultural subsidies and veterans’ benefits.
Postponement of a highway construction program.
Reductions in Federal tax rates on personal and corporate income.
Question 3.3.(TCO 6) The financing of a government deficit increases interest rates and, as a result, reduces investment spending. This statement describes (Points : 1)
the supply-side effects of fiscal policy.
built-in stability.
the crowding-out effect.
the net export effect.
Question 4.4.(TCO 5) The determinants of aggregate supply(Points : 1)
are consumption, investment, government, and net export spending.
explain why real domestic output and the price level are directly related.
explain the three distinct ranges of the aggregate supply curve.
include resource prices and resource productivity.
Question 5.5.(TCO 6) In an effort to avoid recession, the government implements a tax rebate program, effectively cutting taxes for households. We would expect this to (Points : 1)
affect neither aggregate supply nor aggregate demand.
increase aggregate demand.
reduce aggregate demand.
reduce aggregate supply.
Question 6.6.(TCO 6) The consumption schedule directly relates (Points : 1)
consumption to the level of disposable income.
saving to the level of disposable income.
disposable income to domestic income.
consumption to saving.
Question 7.7.(TCO 6) Dissaving means (Points : 1)
the same thing as disinvesting.
that households are spending more than their current incomes.
that saving and investment are equal.
that disposable income is less than zero.
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