The typical by-product of policies that create more equality by making the rich worse off is _____
a. an increase in the economic multiplier
b. a decline in conspicuous consumption
c. and increase in social stratification
d. a lowering of economic productivity
d
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The production possibilities frontier itself shows
A) the maximum amount of resources available at any given time. B) combinations of goods and services that do not fully use available resources. C) the maximum rate of growth of output possible for an economy. D) the maximum levels of production that can be attained.
Two drawbacks in using fiscal policy as a stabilization tool are that fiscal policy can affect ________ as well as aggregate demand and that fiscal policy is ________.
A. consumption; offset by automatic stabilizers B. potential output; not flexible enough C. potential output; offset by automatic stabilizers D. consumption; too flexible