What are the effects of an increase in government purchases? (Select all that apply.) A. Decrease in government spending B. Increase in real wages C. Increase in overall GDP D. Increase in aggregate output E. Consumption decreases F. Employment increases
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- a What is the total value of government spending? b What is the value of total consumer spending? c What is the country's total GDP?How does tax improve one's health and what are the long term benefit to the economy? Note: don't use chat gpt(Use for a and b)Suppose the interest on the debt was $700 billion. If interest is paid domestically, 90% will be spent domestically (the remainder is spent on foreign goods). If interest is paid to the foreign sector, only 10% is spent here (the remainder is spent in foreign countries). Every dollar collected in taxes to pay the interest causes domestic spending to fall 90 cents. The spending multiplier is 2. a) What is the net impact on GDP if all interest is paid domestically? b) What is the net impact on GDP if 20% of the interest is paid to the foreign sector? c)What are the desirable qualities of an efficient commodity money?
- Question 10 A government is considering reducing the amount of taxes it collects from its citizens each year. Which of the following is the best argument against the tax reduction? a The government might have a smaller role in the economy. b The government will likely have to produce fewer goods and services with the reduced revenue. c Citizens will not be able to purchase as many goods and services as they could previously. d People do not generally like taxes.Which of the following is incorrect regarding tax revenues? a.they increase during recessions b.they increase during economic expansions c. they are a revenue source in the government's budget d. they change with changes in the tax rate(25) Which of the following is an example of fiscal policy? Select one: a. A change in tax rates. b. A change in the money supply. c. A change in interest rates. d. A change in the inflation rate. (26) If the number of employed persons in a country equals 24 million, the number of unemployed persons equals 8 million, and the number of persons over age 16 in the population equals 40 million, the unemployment rate equals ________. Select one: a. 25% b. 18% c. 32%
- Restaurant meals and vacation hotels expenditures are examples of ______A. consumptionB. investmentC. government spendingD. taxationWhat are the two sides to the federal budget? (Select two): A. Government Spending B. Equilibrium GDP C. Full Employment D. Federal Tax RevenueWhich of the following makes up the largest sliceof the budgetary pie?a. defense expendituresb. income security expendituresc. foreign aid expendituresd. domestic policy expenditures other than for incomesecuritye. interest expenditures
- Only typed answer and please don't use chatgpt Suppose the tax multiplier in an economy is -3. How will total spending (TS) change when taxes (T) increase by $300? Group of answer choices TS will decrease by $900 TS will decrease by $100 TS will increase by $900 TS will increase by $100(d) Suppose government spending increases by some amount AGo to become Go+AGo. Show the change in Y and C as a response to this increase in spending.The economy experiences an increase in the price level and a decrease in real domestic output. What is a likely explanation? Select one: a. government expenditures decreased b. resource prices have increased c. productivity has increased d. business taxes have decreased