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Macroeconomics for AP1st EditionDavid Anderson, Margaret Ray 569 solutions The group of three economists appointed by the president to provide fiscal policy recommendations is the: Council of Economic Advisers. Discretionary fiscal policy refers to: intentional changes in taxes and government expenditures made by Congress to stabilize the economy. Countercyclical discretionary fiscal policy calls for: deficits during recessions and surpluses during periods of demand-pull inflation. Fiscal policy refers to the: deliberate changes in government spending and taxes to stabilize domestic output, employment, and the price level. Expansionary fiscal policy is so named because it: is designed to expand real GDP. Contractionary fiscal policy is so named because it: is aimed at reducing aggregate demand and thus achieving price stability. An economist who favors smaller government would recommend: tax cuts during recession and reductions in government spending during inflation. An economist who favored expanded government would recommend: increases in government spending during recession and tax increases during inflation. Discretionary fiscal policy will stabilize the economy most when: deficits are incurred during recessions and surpluses during inflations. Assume the economy is at full employment and that investment spending declines dramatically. If the goal is to restore full employment, government fiscal policy should be directed toward: an excess of government expenditures over tax receipts. Which represents the most contractionary fiscal policy?Which of the following represents the most contractionary fiscal policy? A $30 billion decrease in government spending. A contractionary fiscal policy is shown as a: leftward shift in the economy's aggregate demand curve.
Which are contractionary fiscal policies?Contractionary fiscal policy: In contractionary fiscal policy, the government taxes more than it spends—either by increasing tax rates, decreasing spending, or both. This type of fiscal policy is best used during times of economic prosperity. Contractionary fiscal policy is the opposite of expansionary fiscal policy.
What is contractionary fiscal policy quizlet?Contractionary Fiscal Policy involves decreasing government spending or increasing taxes, which leads to a decrease in aggregate demand.
Which is an example of a contractionary fiscal policy quizlet?An example of contractionary fiscal policy would be to decrease government spending on goods and services.
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Which of the following represents the most contractionary fiscal policy
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