QUESTION 31 What is the main purpose of the automatic stabilizers? O to support social programs when times get tough O to give some certainty to government officials O to cushion economic declines and to dampen economic booms O to limit future budget deficits
QUESTION 31 What is the main purpose of the automatic stabilizers? O to support social programs when times get tough O to give some certainty to government officials O to cushion economic declines and to dampen economic booms O to limit future budget deficits
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
6

Transcribed Image Text:QUESTION 31
What is the main purpose of the automatic stabilizers?
O to support social programs when times get tough
O to give some certainty to government officials
O to cushion economic declines and to dampen economic booms
O to limit future budget deficits
QUESTION 32
Legislative or administrative action taken by the government to alter the level of government spending or the tax structure is
O automatic stabilizers.
O discretionary fiscal policy.
O discount lending.
O open market operations.
QUESTION 33
The $1.9 trillion COVID Relief Bill passed by Congress on March 11, 2021 is an example of
O monetary policy.
O congressional policy.
O discretionary fiscal policy.
O automatic stabilization policy.
QUESTION 34
Who is responsible for fiscal policy?
O the U.S. Treasury and the Federal Reserve
O the U.S. Treasury and the Congress
O Congress and the Federal Reserve
O Congress and the President

Transcribed Image Text:O0 0 0
QUESTION 29
A progressive income takes a
percentage of your income as your income
O larger, declines
O smaller; rises
O flat, declines
O larger, rises
QUESTION 30
When the economy slides into a recession, government outlays for transfer payments tend to
starts to expand again, government outlays for transfer payments tend to
policy.
When the economy
fiscal
This is an example of
O increase: remain unchanged, discretionary
decrease; increase; automatic
increase decrease; automatic
remain unchanged decrease; discretionary
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you


Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON

Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON


Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON

Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON

Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning

Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning

Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education