Arguments against the balanced budget amendment include which of the following?
A) A balanced budget amendment would increase capital formation.
B) A balanced budget amendment would exert fiscal discipline on the federal government.
C) A balanced budget amendment would limit Congress' ability to use fiscal policy during a recession.
D) A balanced budget amendment would reduce the taxation burden on future generations.
C
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Countercyclical fiscal policy has a serious problem with
a. overshooting the desired impact by a factor of 10. b. the irreversibility of actions. c. the tendency of the Federal Reserve to immediately counter Congressional action. d. the courts as it has been held to be unconstitutional. e. overshooting the desired impact by a factor of 3.
Cyclical unemployment refers to the year-to-year fluctuations in unemployment around its natural rate
a. True b. False Indicate whether the statement is true or false