m. 17
An example of expansionary fiscal policy would be to increase taxes.
False
Medicare covers the majority of the cost of healthcare for Americans who have low incomes.
False
An example of a social insurance program would be unemployment insurance.
True
An example of contractionary fiscal policy would be to decrease government spending on goods and services.
True
Contractionary fiscal policies decrease the aggregate demand curve
True
The federal government indirectly controls government spending (G).
False
The multiplier formula associated with changes in G is expressed mathematically as MPC/(1−MPC).
False
Which of the following was the highest source of government tax revenue in the United States in 2018?
Individual income taxes
Which of the following was the largest source of total government spending in the United States in 2018?
NOT HEALTH CARE OR DEFENSE
The magnitude of the shift of the aggregate demand curve is determined by the value of the multiplier.
True