During recessions, government expenditure automatically
A) rises because of programs such as unemployment insurance and Medicaid.
B) falls because of programs such as unemployment insurance and Medicaid.
C) falls because of the progressive income tax system.
D) rises because of the progressive income tax system.
A
Economics
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In the simple Keynesian framework, the price level
A) is fixed. B) varies directly with unemployment. C) varies inversely with wages. D) is indeterminate.
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If nominal GDP is declining, it is necessarily true that Real GDP is also declining
Indicate whether the statement is true or false
Economics