Fiscal policy refers to:
A. the determination of the nation's money supply.
B. government policies aimed at changing the underlying structure or institutions of the economy.
C. decisions to determine the government's budget.
D. policy directed toward increasing exports and reducing imports.
Answer: C
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a. Travel cost method b. Contingent valuation c. Hedonic pricing d. Production function valuation e. Avoided cost valuation
Automatic fiscal stabilizers
a. keep the federal budget balanced. b. keep the federal high employment budget balanced. c. help to reduce the severity of recessions and inflationary boom periods. d. increase structural deficits over the business cycle. e. both c and d.