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Survey of economics
Question: The multiplier effect:  Lessens upswings and downswings in business activity  Reduces the MPC  Ma...

Show transcribed image text The multiplier effect: Lessens upswings and downswings in business activity Reduces the MPC Magnifies small changes in spending into larger changes in output and income Promotes stability of the general price level A nondiscretionary fiscal policy is a fiscal policy that Does not require action by the Congress. Depends on Congress to be enacted. involves a change in government defense spending only. involves a change in corporate tax rates only. Full employment means Everyone who wants a job has one Everyone has a job regardless of whether they want one The only unemployed workers are the seasonal, frictional, and structurally unemployed Everyone in the labor force has a job

The multiplier effect: Lessens upswings and downswings in business activity Reduces the MPC Magnifies small changes in spending into larger changes in output and income Promotes stability of the general price level A nondiscretionary fiscal policy is a fiscal policy that Does not require action by the Congress. Depends on Congress to be enacted. involves a change in government defense spending only. involves a change in corporate tax rates only. Full employment means Everyone who wants a job has one Everyone has a job regardless of whether they want one The only unemployed workers are the seasonal, frictional, and structurally unemployed Everyone in the labor force has a job