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- Under what general macroeconomic circumstances might a government use expansionary fiscal policy? When might it use contractionary fiscal policy?Why is spending by the U.S. government on scientific research at NASA fiscal policy while spending by the University of Illinois is not fiscal policy? Why is a cut in the payroll tax fiscal policy whereas a cut in a state income tax is not fiscal policy?What are some of the ways fiscal policy might encourage economic growth?
- Figure 8-23. The figure represents the relationship between the size of a tax and the tax revenue raised by that tax. 6 on4m21 3 Tax Revenue B Tax Size Refer to Figure 8-23. If the economy is at point A on the curve, then a small increase in the tax rate will O increase the deadweight loss of the tax and increase tax revenue. O increase the deadweight loss of the tax and decrease tax revenue. decrease the deadweight loss of the tax and increase tax revenue. O decrease the deadweight loss of the tax and decrease tax revenue.8. Given each of the following values for both the spending multiplier and the tax multiplier, calculate both the MPC and the MPS. a. 20 b. 10 c. 8 d. 54. Why does a reduction in taxes have a smaller multiplier effect than an increase in government spending of an equal amount?
- When Amy's income increased her average tax rate decreased trom 20 peroent to 15 percent. When Alice's income increased. her average tax tate increased hom 20 percent to 2 percent When Juke's income incremed, his average tax rate didn't change Ives in an economy witha pgressive ta ystem pays a proportional te and lives in an economy with a regressive ta ystemm OA. Ale Ay Jake 0B Amy Alice Jake OC. Alce, Jake, Amy O D. Jake, Amy Alice2. Why is the tax multiplier smaller than the government spending multiplier?I'm doing some practice questions, theyre all true or false. yall will probably be getting more from me seeing as how they are all true or false and that makes it harder for me. the question is true or false: If the MPC is .98 and GOVT spending increases by $10 AD will increase by $450. Idk how to solve for this with so little information. my equation I would have used for this is: deltaY*= K x deltaG (delta meaning change, dont have that on my computer keyboard) to solve for K= 1/ (1-MPC) I plugged in 10= 50 x deltaG and got 20. that cant be right. was i supposed to put 450 in place of deltaY*?
- Which of the following is NOT a tool of fiscal policy. O taxes O government spending Onterest rates none of the above Question 2 Assume the economy is in a deep recession. The appropriate fiscal policy response would be to: raise taxes and raise govemment expenditures cut taxes and cut govermment expenditures raise taxes and cut government expenditures O cut taxes and increase government expenditures D Question 3 Crowding out refers to the fact that: Tax cuts will cause inflation O Tax cuts may result in higher interest rates which will "crowd out" business investment spending O increased government spending will crowd out spending on imports none of the aboveWhat are the three injection into the income-expenditure flow? O Government Spending, Consumer Spending. Exports O Goverment Spending. Investment, Exports : O Government Spending, Investment, ImportsWhen government spending increases by $1, planned expenditures increase by $1 O A. times the spending multiplier and the equilibrium level of income will increase by $1. O B. and the equilibrium level of income will increase by $1. O C. and the equilibrium level of income will increase by $1 times the spending multiplier. O D. and the equilibrium level of income will increase by less than $1. When taxes are cut by $1, planned expenditures O A. decrease by $1 and the equilibrium level of income will decrease by $1 times the tax multiplier. O B. increase by less than $1 and the equilibrium level of income will increase by $1 times the tax multiplier. OC. increase by $1 and the equilibrium level of income will increase by S1 times the tax multiplier. O D. increase by $1 and the equilibrium level of income will increase by $1 times the spending multiplier. Click to select your answer! V560