Examlex
A decrease in taxes will shift aggregate demand to the _____, cause consumption to _____, and cause output to _____. Due to the crowding-out effect, investment will _____.
Elastic Supply
Describes a situation where the quantity supplied of a good changes significantly when its price changes.
Tax Burden
The measure of the financial charge or impact of taxes on an individual or a corporation.
Excise Tax
A tax on specific goods or services, such as tobacco, alcohol, and gasoline, designed to raise revenue and/or discourage consumption of certain products.
Equilibrium
A state in which the conflicting forces of demand and supply are in balance. When a market is in equilibrium, the decisions of consumers and producers are brought into harmony with one another, and the quantity demanded will equal the quantity supplied.
Q145: An implication of the Employment Act of
Q224: The "natural" rate of unemployment is the
Q340: If not all prices adjust instantly to
Q345: ARRA involved substantial<br>A)increases in government spending.<br>B)decreases in
Q375: If the MPC is 0.8 and there
Q428: According to the liquidity preference theory, an
Q429: If the Federal Reserve increases the rate
Q445: In the 1970s, the Fed accommodated a(n)<br>A)adverse
Q478: Explain how a recession differs from a
Q518: Some economists argue that<br>A)monetary policy should actively