The official dating of recessions in the United States is the responsibility of the:
a. Bureau of Labor Statistics (BLS).
b. Internal Revenue Service (IRS).
c. Federal Reserve.
d. Congress.
e. National Bureau of Economic Research (NBER).
e
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Refer to Figure 29-1. Europe experiences an economic boom. Assuming all else remains constant, this would be represented as a movement from
A) D to A. B) C to B. C) B to A. D) D to C.
The term "fiscal federalism" refers to
a. deficit financing of government programs. b. the power of Congress to tax and to determine how tax revenues are spent. c. transferring money between levels of government (for example, from a state government to a local government). d. the system under which governments ask citizens to vote on major revenue-raising measures (for example, on issues of municipal bonds).