Nondiscretionary Fiscal Policy Relies in Part on

question 231

Multiple Choice

Nondiscretionary fiscal policy relies in part on

• A)spending for national defense.
• B)automatic changes in personal and corporate income tax receipts to stabilize economic activity.
• C)checks and balances established by the United States Constitution.
• D)"do nothing" economic policies,based on the belief that a market economy is stable and self-adjusting.

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Definitions:

Primary Copper

Copper in its metallic form as found in nature, typically extracted via mining and used as a raw material for further refinement and use in various applications.

Supply Curves

depict how the quantity supplied of a commodity varies as its price changes, assuming other factors remain constant.

Price Elasticity of Demand

An assessment of the variation in the amount of a product desired in relation to fluctuations in its cost.

Major League Baseball

The professional baseball organization that is the oldest of the four major professional sports leagues in the United States and Canada.