Discretionary fiscal policy is a policy that _____
a. is developed in secret
b. applies to some states and not all states
c. applies to only to some specific industries in an economy
d. works automatically without public announcement or plan
e. is an intentional change in taxation or government spending
e
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Banks with excess reserves will supply more reserves to the federal funds market as the interest rate increases
Indicate whether the statement is true or false
The smaller the price elasticity of demand, the
a. steeper the demand curve will be through a given point. b. flatter the demand curve will be through a given point. c. more strongly buyers respond to a change in price between any two prices P1 and P2. d. smaller the decrease in equilibrium price when the supply curve shifts rightward from S1 to S2.