If a government wants to decrease economic growth, it would use a contractionary fiscal policy that might involve
A. increasing government spending.
B. increasing taxes.
C. decreasing regulations.
D. decreasing unemployment.
B. increasing taxes.
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The law of demand can be stated as all else equal:
A. quantity demanded rises as price falls. B. quantity demanded rises as price rises. C. quantity demanded rises as income rises. D. demand rises as price falls.
Refer to the data provided in Table 17.5 below to answer the following question(s). The table shows the relationship between income and utility for Lucy. Table 17.5 IncomeTotal Utility $00$10,00010$20,00020$30,00030$40,00040Refer to Table 17.5. Lucy earns $20,000 annually. She has the opportunity to bet her entire salary on the upcoming super bowl. If Lucy takes the bet, she will pick the Packers. She believes that the Packers have a 50-50 chance of winning the game. If the Packers win, Lucy will double her money ($40,000) but if they lose she loses her entire salary ($0). This bet can be characterized as
A. an unfair bet. B. risk-loving. C. risk-neutral. D. a fair bet.