Discuss how policymakers use national income data to make decisions about taxes, spending, and other economic policies.

Q: Indicate whether the following policy statement is Fiscal or Monetary or Neither Increase income…

A: Fiscal policy is the use of government spending and taxation to influence the economy. Governments…

Q: Suppose that there’s a recessionary gap, and the country wishes to produce its potential output.…

A: Recession refers to the stage where GDP decrease,  rising unemployment rates, reduced consumer…

Q: According to Martin Gilens, which of the following best explains why most Americans are in favor of…

A: Welfare refers to a government software or social support system designed to provide assistance and…

Q: Suppose that a federal election is called at a time when the economy is experiencing a recessionary…

A: The objective of the question is to understand the impact of two different economic policies - one…

Q: $45 $40 $35 $30 Price (dollars per dispoable vape) $25 $20 $15 $10 $5 2 3 4 5 6 D Quantity (millons…

A: Demand refers to the willingness and ability of consumers to purchase a good or service at a…

Q: The table gives the government outlays and tax revenues from 2015 through 2019 for two countries.…

A: A budget deficit occurs when government outlays are greater than tax revenue. A budget surplus…

Q: For the states Texas and North carolina Compare the average income and cost of living factors in…

A: Average­ Income: 'Average income' is a term that tells us the usual e­arning of people or families…

Q: The Consumer Price Index measures the overall level of prices faced by: consumers and producers. a…

A: Price index refers to an economic measure to compute the change in the general price of goods and…

Q: Economists interested in the “well-being” of the people of various countries often use indicators…

A: Earnings, income, and consumption are commonly used economic indicators of well-being, but still…

Q: he two types of national policies that influence the national economy are_________ policy and…

A: The answer is solved given below

Q: Suppose the federal government attempts to combat a recession by purchasing a new fleet of warships…

A: Economic Policy:-  The acts that government of a nation do in the economic sphere are referred to as…

Q: Question 10: _____ represent the core function of any economy.   A Governments B Markets C Firms

A: Markets: - markets mean a platform where different parties connect with each other and exchange…

Q: In an island economy, farmers grow 120 potato, pay 40 in tax, eat 30, plant 50 in the yard.  a.…

A: farmers grow 120 potatoes, pay 40 in tax, eat 30, and plant 50 in the yard.

Q: Fiscal policy refers to the    A. manipulation of the money supply in order to increase the amount…

A: Fiscal policy can be defined as a methods by which an administration changes its spending levels and…

Q: What’s are the most important economic drivers in the United States economy?

A: The US economy is a mixed and developed economy by being the largest in the world in terms of net…

Q: Which of the following is NOT counted in the "G" component of spending   a. social security payments…

A: Answer- Need to find- Which of the following is NOT counted in the "G" component of spending…

Q: A certain simple economy has two sectors: work and play. To produce $1 of work requires $0.7 of work…

A: Most economic decision-making involves the concept of opportunity cost. Basically, what is given up…

Q: In the simple circular-flow diagram, the decision-makers consist of Select one: O a. households and…

A: The simple circular flow model is a two-sector model with only households and firms. The complex…

Q: 1. Would it be possible for an increase in taxation to decrease the gross domestic product measured…

A: Yes, it is possible for an increase in taxation to decrease the GDP measured in the US. It is…

Q: Which of the following is true? The federal government spend about the same as state and local…

A: The federal government means the central governing authority of a country that is responsible for…

Q: Define briefly the following: a. Tax Reforms b. Statistics c. Dependency/Depemdemcy Theory

A: The economies around the world has various different types of entities, which works with the motive…

Q: hat are the Reason that affect the increasing purchase of goods and services in the government of…

A: The following are the main reasons that affect the increasing purchase of goods and services in the…

Q: wages = 700 goverment spending = 2,300 investment = 2,300 rent = 200 consuption = 7,400 net exports…

A: GDP =w + i + C+ I  + G + (X - M)          = 700 + 200 + 7400 + 2300 + 2300 + 400           = 13,300

Q: Determine if each transaction is included in the Gross Domestic Product (GDP) and mark each item as…

A: " Since you have posted a question with multiple sub-parts, we shall answer the first sub-parts . To…

Q: Which of the following is part of mandatory outlays?   A. Income assistance B. Defense spending…

A: A Outlay happens when Federal cash is really paid out, not simply vowed to be paid ("obligated").…

Q: In the economy of Kwartengland, the following figures are given for economic activity which was…

A: A fiscal multiplier is the ratio of the change in national income with respect to a change in a…

Q: Government initally increased spending from 50 million to 10Omillion . Household responded by…

A: Given: Increase in spending by government (income)=50 million to 100 million Increase in spending by…

Q: Each year the government loses 17 cents out of every dollar due on income taxes because of cheating…

A: The article you provided discusses the problem of income tax cheating in the United States. It…

Q: Use the table to answer the questions. Assume firms pay all profits out to resource owners, there is…

A: The total financial or market value of all finished merchandise and services made within a country's…

Q: Katniss works for the Panem Bureau of Economic Analysis. Panem produces three goods: bread and axes,…

A: We know that, GDP is the money value of all final goods and services that can be produced within a…

Q: What are some reasons that the economy might be in a recession, and what is the appropriate…

A: The recession is a period of low economic performance and it is caused due to low aggregate demand…

Q: Name the type of institution that is responsible for promoting a stable environment for the economy…

A: Stable environment for the economy refers to the environment which facilitates ease of doing…

Q: What effect can leading economic indicators, coincident economic indicators, and lagging economic…

A: Various indicators are utilized by analysts/economists to make certain decisions for the nation, or…

Q: Question 22 Which of the following is included in the government purchases category of gross…

A: Answer: The government purchases category of GDP includes the spending of government to purchase…

Q: Which of the following statements is false? Select one: A. GDP is the total of all spending on…

A: The area of economics known as macroeconomics focuses on how an economy operates and acts as a…

Q: Describe how a country of your choice’s economy is measured. Explain why it is desirable for a…

A: The United States uses Gross Domestic Product (GDP) as its economic measurement to assess the total…

Q: Each year the government loses 17 cents out of every dollar due on income taxes because of cheating…

A: The question is asking about the potential impact on the federal deficit if income tax cheating was…

Q: Calculate total GDP for this economy given the following components of demand. Round your answer to…

A: Gross domestic product is the standard proportion of the value added made through the production of…

Q: There are five mainstream schools of economic thinking on issues There are five mainstream schools…

A: The rate of unemployment changes with the change in the inflation rate. If the inflation rate rises,…

Q: Which of the following questions would an economist NOT answer? a. How do taxes affect consumers and…

A: An economist is an expert who studies the relationship between a society's wealth and its input or…

Q: In 2020, the government of Brazil had a tax revenue of $70 million and the non tax revenue of $120…

A: The information being given is:- Tax revenue = $70 million Non tax revenue = $120 million We have to…

Q: Which of these tax systems does not conform to the idea of vertical equity? a. GST. b. A flat…

A: Vertical equity refers to an approach of tax collection wherein the taxes paid will be increasing…