ECO 203 Week 3 Quiz

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ECO 203 Week 3 Quiz

1. In the classical model, the supply of loanable funds is

2. If the equilibrium level of national income is less than the desired level of national income, then

3. The time between the legislation of fiscal policy and its effect on output and employment is called

4. Fiscal policy is different in an open economy than in a closed economy because

5. Keynes blamed economic downturns primarily on

6. The lags for fiscal policy

7. The federal income tax is

8. Classical economists believed that the level of real output is determined by the

9. The cumulative total of past federal budget deficits minus past surpluses

10. Supply-side tax cuts are aimed primarily at encouraging