If the price of a good rises by 10% and the quantity purchased falls by 15%, then demand for the good is ________ and total spending on the good will ________

An example of contractionary fiscal policy would be

a. cutting taxes b. decreasing government spending c. increasing production of consumer goods d. expanding the governments role in regulating private industry

Most studies indicate that the degree of income inequality in the United States has

a. been increasing in recent decades. b. been declining in recent decades. c. been constant since 1970. d. fluctuated widely from year to year.