Nearly 70% of U.S. government securities are owned by ______.
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Correct Answer:
U.S. citizens and institutions
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In 1980, Ronald Reagan campaigned to ______.
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Correct Answer:
Lower taxes
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During normal economic times, automatic stabilizers are ______.
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Correct Answer:
More effective than expansionary policy
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The most important automatic stabilizer is the ______.
Answer
Correct Answer:
Tax system
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The time between the realization there is an economic downturn and the enactment of fiscal policy to address it is known as the ______.
Answer
Correct Answer:
Implementation lag
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The time between the start of an economic downturn and the gathering of data that reflect the downturn is known as the ______.
Answer
Correct Answer:
Recognition lag
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The Kennedy tax cuts of 1964 led to ______.
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Correct Answer:
Economic growth
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Economist Arthur Laffer is ______.
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Correct Answer:
A supply-side economist
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The government has used demand-side policies ______.
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Correct Answer:
Since the 1930s
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What percentage of their 2008 rebates did consumers actually spend?
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Correct Answer:
35%
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The multiplier effect refers to ______.
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Correct Answer:
A chain reaction of additional income and purchases that results in total purchases that are greater than the initial increase in purchases
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Contractionary policy can be used to ______.
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Correct Answer:
Close an inflationary gap
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Expansionary policy can be used to ______.
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Correct Answer:
Close a recessionary gap
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The largest fiscal stimulus policy in U.S. history was enacted in ______.
Answer
Correct Answer:
2009
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The term “fiscal policy” is used to describe actions of ______.
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Correct Answer:
The federal government
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A chain reaction of additional income and purchases that results in total purchases that are greater than the initial increase in purchases is called
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Correct Answer:
Multiplier effect
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The discretionary, or deliberate, use of government purchases and taxes to alter equilibrium output and prices to stabilize the economy is fiscal policy
Answer
Correct Answer:
True
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Automatic stabilizers changes in government transfer payments or tax collections that automatically help counter business cycle fluctuations
Answer
Correct Answer:
True
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