Fiscal policy is determined by
a. the president and Congress and involves changing government spending and taxation.
b. the president and Congress and involves changing the money supply.
c. the Federal Reserve and involves changing government spending and taxation.
d. the Federal Reserve and involves changing the money supply.
a
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You choose to get a flu shot each fall and your roommate chooses not to get a flu shot. For your roommate, you getting a flu shot is a
A) positive externality. B) negative externality. C) transactions cost. D) property right.
________ states that if previously existing distortions exist, a distortionary tax may actually improve efficiency.
A. The principle of second best B. The principle of neutrality C. The rule of reverse distortion D. The benefits-received principle