Answered: Which of the following pieces of…

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter18: Debates In Macroeconomics Over The Role And Effects Of Government

Section18.10: Demand-side And Supply Side Views Of The Economy And Government Tools For The Changing Real Gdp

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Which of the following pieces of legislation would be considered part of the economic stabilisation role of government?

Select one:

a.The Fiscal Responsibility Act.

b.The Employment Contracts Act.

c.The Reserve Bank Act.

d.The Fair Trading Act.

Fiscal drag is where

Select one:

a.there is a lag in government spending having any effect.

b.increases in nominal wages push taxpayers up tax brackets.

c.increases in government spending hold back economic growth.

d.taxpayers look for ways to avoid paying tax they perceive is unfair.

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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