what do goods lke gasoline, tabocco, and alchol typically share in common? (course hero)

What goods like gasoline tobacco and alcohol typically share in common?

The correct answer is c. Goods like gasoline, tobacco, and alcohol typically are subject to government excise taxes.

Is South Dakota's governor reports a budget surplus in 2011 that state government likely?

If South Dakota's governor reports a budget surplus in 2011, that state government likely: received more in taxes than it spent in that year.

When inflation begins to climb to unacceptable level in the economy the government should?

aggregate demand curve will shift to the right. When inflation begins to climb to unacceptable levels in the economy, the government should: A. use contractionary fiscal policy to shift aggregate demand to the left.

What is the name for the phenomenon when expansionary fiscal policies such as increased government spending or lower taxes discourages consumption and investment?

The crowding out effect is an economic theory arguing that rising public sector spending drives down or even eliminates private sector spending.

Which of the following terms is used to describe the set of policies that relate to government spending taxation and borrowing group of answer choices?

Fiscal policy is the set of policies that relate to federal government spending, taxation, and borrowing. In recent decades, the level of federal government spending and taxes, expressed as a share of GDP, has not changed much, typically fluctuating between about 18% to 22% of GDP.

When a government pursues an expansionary fiscal policy when the economy is in a recession?

Expansionary fiscal policy is used to kick-start the economy during a recession. It boosts aggregate demand, which in turn increases output and employment in the economy. In pursuing expansionary policy, the government increases spending, reduces taxes, or does a combination of the two.

When the government increases spending or decreases taxes to stimulate the economy toward expansion the government is conducting?

7. When the government increases spending or decreases taxes to stimulate the economy toward expansion, the government is conducting: expansionary fiscal policy.

Which sector is the major source of tax revenue for the government?

The individual income tax has been the largest single source of federal revenue since 1950, amounting to about 50 percent of the total and 8.1 percent of GDP in 2019 (figure 3).

What do state governments spend the most on?

State and local governments spend most of their resources on education, health, and social service programs. In 2019, about one-third of state and local spending went toward combined elementary and secondary education (22 percent) and higher education (9 percent).

What do state governments spend the most on quizlet?

The largest category of state spending is education. State governments have primary responsibility for elementary and secondary education.

When the interest rate in an economy decreases it is most likely as a result of?

When the interest rate in an economy decreases, it is most likely as a result of: a/an increase in the government budget surplus or its budget deficit.

What is the sum of all budget deficits?

The deficit is not the debt. The difference between the deficit and the debt lies in the time frame. The federal deficit (or surplus) refers to what happens with the federal government budget each year. The public (or Federal government) debt is accumulated over time; it is the sum of all past deficits and surpluses.