Answer the following statement(s) true (T) or false (F)
1. Fiscal policy usually refers to actions at the federal government level.
2. In the early 1980s, tax cuts put the U.S. economy in a recession.
3. The largest fiscal stimulus package ever was enacted under President Obama.
4. Tax cuts and increased government purchases shift the aggregate demand curve in opposite directions.
5. Tax cuts are a fiscal tool.
1.true
2.false
3.true
4.true
5.true
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Applying the analysis from the California test scores to another U.S. state is an example of looking for
A) simultaneous causality bias. B) external validity. C) sample selection bias. D) internal validity.
In 1997 the price of a local telephone call from most pay phones rose from 15 cents to 25 cents. What effect do you think this will have on phone company revenues? Explain