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Question: The quantity supplied of a good or service is the quantity that a producer ____at a particular pr...

Show transcribed image text The quantity supplied of a good or service is the quantity that a producer ____at a particular price during a given time period. A) actually sells B) should sell C) needs to sell D) is willing to sell Fiscal policy includes A) only decisions related to government expenditure on goods and services. B) decisions related to government expenditure on goods and services, the value of transfer payments and lax revenue. C) only decisions related to the value of transfer payments and tax revenue. D) only decisions related to government expenditure on goods and services and the value of transfer payment. The government's budget deficit surplus equals the A) total tax revenue minus total government outlays. B) average outlay divided by average revenue. C) change in revenue minus change in outlays. D) change in outlays divided by change in revenue. The sum of past budget deficits in excess of the sum of past budget surpluses refers to A) the federal government net worth B) the national debt C) the trade deficit. D) the cyclically unbalanced budget when the quantity demanded equals quantity supplied A) there is a shortage. B) there is a surplus. C) the government must be intervening in the market. D) none of the above A price below the equilibrium prior results in A) excess supply. B) a further price fall C) a surplus D) a shortage. Which of the following is NOT a revenue source for the Federal government? A) interest on corporate bond holdings B) corporate C) social security taxes D) personal income taxes Which of the following is NOT government outlay? A) purchases of goods and services B) debt interest on the government debt C) transfer payments D) purchases of foreign bonds Monetary policy affects real GDP by A) creating budget deficits B) changing aggregate supply. C) changing aggregate demand D) creating budget surpluses Once supply side effects are taken into account, tax cuts for labor income can change I. the supply of labor II. potential GDP A) I and II B) II only C) I only D) Neither I not II.

The quantity supplied of a good or service is the quantity that a producer ____at a particular price during a given time period. A) actually sells B) should sell C) needs to sell D) is willing to sell Fiscal policy includes A) only decisions related to government expenditure on goods and services. B) decisions related to government expenditure on goods and services, the value of transfer payments and lax revenue. C) only decisions related to the value of transfer payments and tax revenue. D) only decisions related to government expenditure on goods and services and the value of transfer payment. The government's budget deficit surplus equals the A) total tax revenue minus total government outlays. B) average outlay divided by average revenue. C) change in revenue minus change in outlays. D) change in outlays divided by change in revenue. The sum of past budget deficits in excess of the sum of past budget surpluses refers to A) the federal government net worth B) the national debt C) the trade deficit. D) the cyclically unbalanced budget when the quantity demanded equals quantity supplied A) there is a shortage. B) there is a surplus. C) the government must be intervening in the market. D) none of the above A price below the equilibrium prior results in A) excess supply. B) a further price fall C) a surplus D) a shortage. Which of the following is NOT a revenue source for the Federal government? A) interest on corporate bond holdings B) corporate C) social security taxes D) personal income taxes Which of the following is NOT government outlay? A) purchases of goods and services B) debt interest on the government debt C) transfer payments D) purchases of foreign bonds Monetary policy affects real GDP by A) creating budget deficits B) changing aggregate supply. C) changing aggregate demand D) creating budget surpluses Once supply side effects are taken into account, tax cuts for labor income can change I. the supply of labor II. potential GDP A) I and II B) II only C) I only D) Neither I not II.