The $787-billion stimulus package enacted by the federal government in 2009 to try to deal with the Great Recession was intended to
A. push the aggregate expenditures schedule upward.
B. close an inflationary expenditures-gap.
C. shift the aggregate expenditures schedule down.
D. bring inflation down.
Answer: A
Economics
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According to the quantity theory of money, inflation is caused by
A) the money supply growing faster than real GDP. B) GDP growing at the same rate as the money supply. C) the money supply growing slower than real GDP. D) GDP growing faster than the money supply.
Economics
A tax system under which an individual pays a higher fraction of his income in taxes at higher levels of income is formally described as
A. digressive. B. progressive. C. proportional. D. regressive.
Economics