Hello! Can I please get some help with these matching questions? Thank you!
QUESTION 1 From the list on your right select the letter that contains the word, phrase, name, etc that best matches the word, phrase, name, etc listed on the left. A. Implementation lag Herman Cain, one of the candidates for the 2012 U.S. Republican Party presidential B. Example of automatic expansionary fiscal policy nomination, proposed replacing the current tax system with a 9 percent corporate tax, a 9 percent personal income tax and a 9 percent national sales tax. C. An increase in government spending is completely or partially offset by reduction in private spending (investment) The current tax rate for social security is 6.29% for the employer and 6.2% for the employee, or 12.4% total. The taxable-maximum amount for the year is $128,400 which D. Example of discretionary fiscal policy means no social security tax is paid on any additional income above the $128,400 limit. E. Occurs when the government expenditures exceed tax revenue v Budget deficit F. The Federal government (Congress and the President) In February 2008, immediately after the start of the 2007-2009 recession, Congress G. Increase in government purchases to shift AD to the right and increase Real GDP passed the "Economic Stimulus Act of 2008" containing a one-time tax rebates for households and investment incentives for businesses. H. A decrease in government purchases (spending) to shift the Short-run Aggregate Supply curve (SRAS) to the left. v Unemployment benefits I. An example of a regressive tax system Response to Inflationary gap J. The accumulated national (public) debt the U.S. government owes to different parties Response to Recessionary gap K. Increase in taxes to reduce AD and Real GDP v Crowding-out L. An example of a proportional/flat tax system Responsible for Fiscal policy M. Recognition lag It takes time to determine the occurrence of recession in the economy N. The Federal Reserve A practice by businesses to make the most profit through price gouging (or charging "unreasonably high prices) during recession