This led to a wide-ranging, and continuing, debate over the best way for government to respond to the recession and its aftermath.
What will be an ideal response?
An immediate response put in place by the Obama administration in 2009 was a policy of economic stimulus through expanded government spending and tax cuts.
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What is the approximate per capita income of the US if the population is 3,405,813 and its GDP is $24 million?
a. $8.17 b. $1.41 c. $7.05 d. $0.08 e. $6.18
Which of the following best characterizes the circular flow of income?
a. Households buy goods and services from businesses, and businesses sell goods and services to households. b. The government purchases resources from businesses and households and then sells goods and services to businesses and households. c. Businesses buy resources from the government, and households buy goods and services from businesses. d. Businesses buy resources from households, and households use their income to buy goods and services from businesses.