In the long run,
a. continuing budget surpluses cause interest rates to fall, thereby stimulating investment spending
b. any deviation from a balanced budget will plunge the economy into recession
c. there can be no economic growth unless the government's budget is in surplus
d. there can be no economic growth unless the government's budget is balanced
e. government spending must increase as a fraction of GDP
A
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"Increasing income tax rates will solve the Social Security time bomb issue" is an example of
A) business economic policy. B) a positive economic statement. C) marginal cost exceeding marginal benefit. D) answering the "how" question. E) globalization.
Laissez faire is a policy that espouses central planning
a. True b. False Indicate whether the statement is true or false