During a sustained economic expansion,
a. the rate of unemployment will generally fall and the employment/population ratio will generally rise.
b. the rate of unemployment will generally rise and the employment/population ratio will generally fall.
c. both the rate of unemployment and the employment/population ratio will generally decline.
d. both the rate of unemployment and the employment/population ratio will generally rise.
A
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In the figure above, imposing a tax on the product results in a division in which
A) all of the tax is paid by the buyers. B) all of the tax is paid by the sellers. C) the buyers and sellers pay the same amount. D) neither the buyers nor the sellers pay the tax.
Which of the following is considered expansionary fiscal policy?
A) Congress decreases the income tax rate. B) Legislation increases a college tuition deduction from federal income taxes. C) The Arizona legislature cuts highway spending to balance its budget. D) Congress increases defense spending.