The behavior of regulators when trying to win approval for their actions from their entire constituency is best described by the
A) capture hypothesis.
B) law of increasing social well-being.
C) share-the-gains, share-the-pains hypothesis.
D) marginal benefit pricing hypothesis.
C
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If there is an inflationary gap in the economy, discretionary fiscal policy would likely involve an action to
A) shift the aggregate demand curve to the right. B) shift the aggregate demand curve to the left. C) shift both the aggregate demand curve and aggregate supply curve to the right. D) shift both the aggregate demand curve and aggregate supply curve to the left.
Did the large U.S. budget deficits in the 1980s "crowd out" investment as some economists had predicted?
a. Yes, investment dropped as predicted. b. Yes, although investment did not fall nearly as much as some had feared. c. No, investment was not crowded out, but net exports dropped. d. No, no crowding out at all occurred.