-The Above Economy Is Characterized By

question 96

Multiple Choice

-The above economy is characterized by:

• A) built-in stability.
• B) taxes which vary directly with GDP,but government spending which is independent of GDP.
• C) taxes which are independent of GDP,but government spending which varies directly with GDP.
• D) a multiplier of 2.5.

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Definitions:

Specific Legacy

A bequest in a will that leaves a particular piece of property or a specific asset to a designated beneficiary.

Probate Laws

The legal process through which a deceased person's estate is valued, beneficiaries are determined, and assets are distributed according to the deceased's will or state law.

Remaining Principal

The amount of the original loan or mortgage that has not yet been repaid.

Wal-Mart Stores

A multinational retail corporation operating a chain of hypermarkets, discount department stores, and grocery stores, headquartered in Bentonville, Arkansas.