When prices in the goods and services market are below the level anticipated,
a. output will temporarily exceed the economy's long-run potential.
b. output will temporarily fall short of the economy's long-run potential.
c. output will be equal to the economy's long-run potential.
d. the actual rate of unemployment will be less than the natural rate of unemployment.
B
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The American Recovery and Reinvestment Act passed in February 2009 was the largest measure of discretionary fiscal policy in US history
a. True b. False Indicate whether the statement is true or false
Which of the following is true of the federal budget? a. The federal budget is a plan that describes a government's monetary policy for the current financial year
b. The federal budget is a plan that describes a government's fiscal policy for the current financial year. c. The federal budget is a plan that describes the president's take on the economy. d. The federal budget is a plan for federal government outlays and revenues for a specified period, usually a year. e. The federal budget is a plan that describes the eligibility criteria of the major entitlement programs taken up by Congress for the current financial year.