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Economics
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Congress might lower taxes if the economy appears to be in a:

a. period of expansion

b. recessionary period

c. period of increased employment

d. period of increasing GDP

 

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Kristelle Balando
Kristelle BalandoLv10
29 Oct 2020

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Related questions

Congress might lower taxes if the economy appears to be in:

Assume that full-employment real GDP is Y=$1,200 billion, the current equilibrium real GDP is Y=$1,600, and the MPC= 0.8. To bring the economy to full employment real GDP,

a. a recessionary gap must be bridged by increasing aggregate expenditures by $80 billion.

b. an inflationary gap must be bridged by cutting aggregate expenditures by $80 billion.

c. nothing is needed to bring the economy into full-employment equilibrium.

d. a recessionary gap must be bridged by increasing aggregate expenditures by $400 billion.

e. an inflationary gap must be bridged by cutting aggregate expenditure by $400 billion.

If the SRAS curve intersects the AD curve to the left of Natural Real GDP, the economy is
 
A. In a recessionary gap.
B. At natural real GDP.
C. In an inflationary gap.
D. At full employment real GDP.

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