What are public assistance programs?
What will be an ideal response?
Public assistance programs are government transfer programs that provide cash benefits to families with dependent children whose incomes and assets fall below a very low level and the very poor regardless of whether they have children.
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What does the deadweight loss from monopoly measure?
What will be an ideal response?
If no fiscal policy changes are made, suppose the current aggregate demand curve will increase horizontally by $1,000 billion and cause inflation. If the marginal propensity to consume is 0.75, federal policymakers could follow Keynesian economics and restrain inflation by decreasing:
a. government spending by $250 billion. b. taxes by $100 billion. c. taxes by $1,000 billion. d. government spending by $1,000 billion.