Quiz15 chapter15

Macroeconomics plus MyEconLab plus eBook 1-semester Student Access Kit (6th Edition)

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Quiz This activity contains 15 questions.  The budget deficit will exceed the primary budget deficit in a given fiscal year if the economy is in a recession. government spending exceeds tax revenue. net interest payments on outstanding debt are positive. the rate of inflation exceeds zero. Provisions in the budget that cause government spending to rise or taxes to fall automatically  when GDP falls are called tax rules. deficit provisions.
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automatic stabilizers. government investment. During a recession, discretionary fiscal policy is expansionary if there is a full-employment deficit. government spending increases. money supply growth increases. tax revenue falls.
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Holding the average tax rate on income constant, an increase in the marginal tax rate on income  will reduce the labor supply. increase the labor force participation rate. increase the labor supply. increase tax revenue. A decrease in the average tax rate, with the marginal tax rate held constant, will  not affect the amount of labor supplied at any real wage.
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