In the classical budgeting era from WWWII to the early 70s, most citizens agreed on public policy and where to spend tax dollars. a). True b). False
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In the classical budgeting era from WWWII to the early 70s, most citizens agreed on public policy and where to spend tax dollars.
a). True
b). False
Step by step
Solved in 2 steps
- Explain why the Public-Choice view supports the deficit budget rule by using one of the voter’s behavior hypotheses to support your answer3. Trace the implications of a government budget surplus on the following:a. national savingb. interest ratesc. private investmentd. economic growthe. future living standards When tracing the effects of the budget surplus, list the assumptions you are making.1) Fiscal policy refers to a) making changes in private expenditures as a result of changes in government spending. b) making changes in the quantity of money to achieve particular economic goals. c) efforts to balance a government's budget. d) making changes to government budgets to achieve particular economic goals. 2) The economy suffers a positive supply shock. As a result, in the short run Real GDP will and the price level will a) fall; fall b) fall; rise c) fall; remain constant d) rise; fall 3) A change in Real GDP in the short run can be brought about by a change in a) labor productivity. b) wealth. c) All of the options available d) the exchange rate. 4) An expansionary fiscal policy will a) never result in a budget surplus. b) always result in a budget deficit. c) sometimes result in a budget deficit. d) always result in a budget surplus.
- Q9) Monetary policy is ✅a)the management of the money supply and interest rates. b) involves decisions about government spending and taxation. c)the excess of expenditures over revenues for a particular year d) is the excess of revenues over expenditures for a particular yearThe government has to go into debt to meet the needs of the budget deficit or shortfall. Identify whether this statement is true or false. Select one:TrueFalse2. Which of the following is a fiscal policy that would increase aggregate demand in the short-run? (A) A decrease in personal income taxes (B) A decrease in government spending (C) An increase in corporate income taxes (D) A purchase of government bonds by the Federal Reserve
- The money creation (seigniorage) to finance government purchases a. is inferior to a non distortionary tax in terms of welfare b. has the same effects in welfare as a non distortionary tax c. has better welfare effects compared to a non distortionary tax d. is the optimal policy in terms of welfareThrough utilizing fiscal policy, i.e. varying ________ and/or ___________, governments achieve goals for output and employment growth as well as price stability.a. interest rates, financial liberalizationb. inflation, tax elasticityc. tax rates, government spendingd. interest rates, tax rates8) A balanced budget occurs when a) transfer payments equal tax revenues. b) a budget deficit during one year is matched by a budget surplus in the next year. c) government expenditures equal tax revenues. d) the national debt is reduced to zero dollars. 9) The interest rate effect is one of the a) shifters of an AD curve. b.) reasons why a short-run aggregate supply curve can be derived. c) reasons why an AD curve is downward-sloping. d) shifters of a short-run aggregate supply curve. 10) The real balance effect explains the change in a) the output producers produce as they attempt to balance their production in response to changes in consumers' demand. b) the value of physical assets (e.g., houses) that results from a change in the price level. c) the real wealth that results from a change in the amount of income earned. d) the real wealth that results from a change in the price level.
- Briefly explain whether each of the following statements is true or false. 1. An increase in government expenditure financed by borrowing (running a larger budget deficit) necessarily leads GDP to rise by more than the increase in gov- ernment expenditure according to the IS-LM model.Many governments budget on the cash basis. Explain why a government would budget on a cash basis rather than on a GAAP-basis. What basis of accounting would you recommend for a municipality budget? Explain and justify your selection.5) Why may flexible budgets be more important to a government's business type activities than to its governmental activities/