Fiscal policy is
A) the money supply policy that the Fed pursues to achieve particular economic goals.
B) the spending and tax policy that the government pursues to achieve particular macroeconomic goals.
C) the investment policy that businesses pursue to achieve particular macroeconomic goals.
D) the spending and saving policy that consumers pursue to achieve particular macroeconomic goals.
E) none of the above
B
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The price elasticity of the supply of teenage labor services is approximately 1.36. Suppose the minimum wage rises from $7.25 per hour to $8.75. Using the midpoint formula, what is the approximate change in the quantity of teenage labor supplied?
A) 7.3 percent B) 14.4 percent C) 25.5 percent D) There is insufficient information to answer the question.
A first public policy step against discrimination in the labor market is to make it illegal. For instance, laws against discrimination have reduced the wage gap between:
a. ages. b. genders. c. education levels. d. classes.