FISCAL POLICY 2 - Chapter 27 11 Fiscal Policy 1 CM27 C Fiscal Policy 2 Countercyclical fiscal policies of the U.S government(a began prior to World War

FISCAL POLICY 2 - Chapter 27 11 Fiscal Policy 1 CM27 C...

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Chapter 27 / 11Fiscal Policy1)CM27 \ C \\ Fiscal Policy\ 2 \\Countercyclical fiscal policies of the U.S. government:(a) began prior to World War I.(b) operated during the early 1930s, based on Keynesian theory.(c) were legally mandated by the Employment Act of 1946.(d) have been totally rejected in recent policy debates.2)CM27 \ D \\ Macroeconomic Goals \ 2 \\The explicit goals of modern fiscal policy in the United States do not include maximum:3)CM27 \ D \\ Government Budgets \ 1 \\The government operates a balanced budget when:4)CM27 \ B \\ Budget Surpluses or Deficits \ 2 \\Annual differences between federal outlays and receipts are:5)CM27 \ D \\ Government Budgets \ 1 \\In simple Keynesian models of Aggregate Expenditures, government tax revenues minus transfer payments equal:Ralph ByrnsChapter 27 / 11: Fiscal PolicyTest Bank Three1
6)CM27 \ D \\ Government Outlays\ 2 \\In the simple Keynesian expenditure model, the public sector includes the budgets of:7)CM27 \ B \\ Government Expenditures \ 2 \\If Provo, Utah spends local funds to build a new fire station, this increases Aggregate:8)CM27 \ E \\ Discretionary Fiscal Policy \ 2 \\Discretionary fiscal policies include:9)CM27 \ C \\ Discretionary Fiscal Policy \ 2 \\Discretionary fiscal policies are attempts to alter economic activity by changing:10)CM27 \ A \\ Discretionary Fiscal Policy \ 1 \\Discretionary fiscal policy is an attempt to improve the macroeconomic environment through:© 2006 EconomicsInteractive.com Contemporary Economics2

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