Which of the following describes the behavior of politicians implementing fiscal policy?
A. They spend in bad times because they can, and they spend in good times because they have to.
B. They spend in bad times because they have to, and they spend in good times because they can.
C. They save in bad times because they have to, and they save in good times because they can.
D. They save in bad times because they can, and they save in good times because they have to.
Ans: B. They spend in bad times because they have to, and they spend in good times because they can.
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A reason that the United States has the largest economy in the world because
A. it has the most land to work with. B. it has a smaller population to support. C. American workers are very productive. D. All of the responses are correct.
If a consumer has an income of $200, the price of X is $5, and the price of Y is $10, the maximum quantity of X the consumer is able to purchase is:
A. 20. B. 10. C. 5. D. 40.