What are the two types of discretionary fiscal policy?
A) automatic and expansionary
B) expansionary and contractionary
C) expansionary and recessionary
D) automatic and contractionary
B
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Most economists believe that the biases in the consumer price index cause the CPI to overstate the true inflation rate by about
A) one quarter percentage point. B) one to two percentage points. C) one and one-half percentage points. D) one-half to one percentage point.
An intertemporal budget constraint ________
A) describes how much time an individual consumer has to spend their disposable net national product B) is independent of the real interest rate and wealth of the household C) divides consumption spending into three categories: spending on durables, non-durables and services D) describes how much a person can consume today versus tomorrow