Discretionary fiscal policy is handicapped by
A) lawmaking time lags, induced taxes, and automatic stabilizers.
B) lawmaking time lags, estimation of potential GDP, and economic forecasting.
C) economic forecasting, lawmaking time lags, and induced taxes.
D) automatic stabilizers, lawmaking time lags, and potential GDP estimation.
E) automatic stabilizers, the multipliers, and potential GDP estimation.
B
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Why is it that all of our wants cannot be satisfied?
A) because of shortages B) because we cannot seem to decide what we really want C) because other people try to change your mind about what you want D) because limited resources mean all the goods we want cannot be obtained
To obtain GDP from a national income base,
a. add indirect business taxes and Social Security taxes b. add capital depreciation and Social Security taxes c. add indirect business taxes and personal taxes d. subtract indirect business taxes and capital depreciation e. add indirect business taxes and capital depreciation