According to the Keynesian approach, a decrease in taxes
A) will decrease consumption, as the government will have to spend less.
B) will not impact consumption, as most consumption is autonomous.
C) will increase consumption exactly by the amount of the taxes.
D) will increase consumption by an amount of less than the change in taxes.
D
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The delay between the time at which a problem is recognized and the time at which a policy to deal with it is enacted is called
A) the impact lag. B) the implementation lag. C) the government lag. D) the recognition lag.
Chief Justice John Marshall had a strong conviction that
(a) slavery would only work in the South. (b) a country needs a central government with enough power to place in check state and local interests when the development and growth of the country is concerned. (c) strong state banking systems would help the nation's commerce. (d) the Constitution should be interpreted literally.