Governments fiscal policy options for an inflationary gap
Describe government’s fiscal policy options for an inflationary gap? Employ the aggregate demand-aggregate supply model to illustrate the impact of these policies on the price level.
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Options are to decrease government spending, raise taxes, or some combination of both. If the price level is flexible downward, it will drop. In the real world, the goal is to drop inflation—to keep prices from increasing so rapidly—not to decrees the price level.
Describe GATT, and its goal? GATT is the General Agreement on Tariffs & Trade. This is a treaty that seeks to decrease trade barriers among participant nations.
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Minor Capital Outlay: The construction projects or tools needed to finish a construction project, estimated to cost less than $600,000 bonus any escalation per Public Contract Code 10108.
Assume the full-employment, non-inflationary level of real output is GDP3 (not GDP2). If the economy is operating at GDP2 instead of GDP3, describe the status of its cyclically adjusted budget? The status of its present fiscal polic
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