ECON 312 Week 5 Quiz (Set 2)
- (TCO 6) Expansionary fiscal policy is so named because it
- (TCO 6) An economist who favors smaller government would recommend
- (TCO 6) The lag between the time and the need for fiscal action is recognized and the time the action is taken is referred to as the
- (TCO 5) The determinants of aggregate supply
- (TCO 6) Other things equal, a reduction in personal and business taxes can be expected to
- (TCO 6) The MPC can be defined as that fraction of a
- (TCO 6) The size of the MPC is assumed to be
- (TCO 5) Refer to the graph. Which of the following factors will shift AD1 to AD3?
- (TCO 6) The multiplier can be calculated as:
- (TCO 5) The American Recovery and Reinvestment Act of 2009
- (TCO 5) What effect would each of the following have on aggregate demand or aggregate supply? Explain. a. A reduction in personal income tax. b. An increase in payroll taxes paid by the employer
- (TCO 6) Why do some economists believe that tax cuts are critical to help revive an economy experiencing a recession?