I JUST NEED ANSWERS

Question 115 pts

Government spending or taxing policy changes that are meant to affect economic activity are part of a country's:

Group of answer choices

aggregate consumption policy

all of the listed choices are correct

fiscal policy

monetary policy

Flag question: Question 12Question 125 pts

According to Keynes, automatic stabilizers change total spending in the economy __________, whereas discretionary changes __________.

Group of answer choices

so that total aggregate supply of goods and services decreases; so that total aggregate demand of goods and services increases

automatically to full employment; usually fall short of full employment

by a fixed amount; by a variable amount

without additional legislation; need specific government approval

Flag question: Question 13Question 135 pts

Classical economists are critical of government spending and taxation changes that affect economic activity because of the long time it takes for these changes to take effect. The following are lags that the classical economists point out, EXCEPT:

Group of answer choices

the impact lag

the monetary lag

the information lag

the policy lag

Flag question: Question 14Question 145 pts

The Laffer curve illustrates that:

Group of answer choices

all of the listed choices are correct

at low tax rates, the government receives less revenue than if the government were to impose a 100% tax

at very high tax rates, the government receives more tax revenue than at lower tax rates

there is an optimal tax rate that maximizes government tax revenue.

Flag question: Question 15Question 155 pts

According to IRS data, in the United States, the majority of federal taxes are paid by:

Group of answer choices

the middle class

the bottom 80% of all income earners (the poorest 80%)

the top 20% of all income earners (the richest 20%)

the bottom 50% of all income earners (the poorest 50%)

Flag question: Question 16Question 165 pts

In a progressive income tax system (like we have in the United States), if the government cuts taxes by 10% for everyone, then in total dollars saved, the group that benefits the most is:

Group of answer choices

the bottom 80% of all income earners (the poorest 80%)

the bottom 50% of all income earners (the poorest 50%

the top 20% of all income earners (the richest 20%)

the middle class

Flag question: Question 17Question 175 pts

If a consumption tax system were to replace our income tax system, then:

Group of answer choices

people would not be able to evade paying taxes as easily (even drug dealers will pay taxes)

after tax prices of goods and services will increase

people would not need to spend a lot of time on tax preparation (it is simple)

no one will pay income taxes

all of the listed choices are correct

Flag question: Question 18Question 185 pts

In a proportional (flat) tax system:

Group of answer choices

everyone pays the same tax in total dollars paid

tax revenue for the government rises by a fixed and steady amount each year

tax revenue for the government stays the same each year

everyone pays the same tax as a percentage of their income

Flag question: Question 19Question 195 pts

According to Public Choice theory, end-of-year spending by government and non-profit organizations, means that:

Group of answer choices

All of the listed choices are correct

spending during the end of the fiscal year is always greater than spending during other periods because the government needs are greater during that time

the government runs out of money at the end of the fiscal year and shutdowns or partial shutdowns are typical during this time

spending during the end of the year is usually greater for governments because of the holidays

during the last period of the fiscal year, departments try to spend everything that is in their budget, even if they don't need to spend it

Flag question: Question 20Question 205 pts

According to Public Choice theory, the following is a disadvantage of government operations:

Group of answer choices

many politicians make decisions that benefit the short run, but not the long run

many politicians favor special interest groups

government departments tend to overspend because it is not their money

all of the listed choices are correct

government regulatory agencies take it easy on businesses that they regulate because of the connections they have in the industry