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Advocates of cutting taxes rather than increasing government expenditures in response to a recession argue that the increase in spending by consumers and business may be more effective than that of the government.Explain this argument.

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Households will spend disposable income ...

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Some economists argue that policymakers can use monetary and fiscal policy to reduce the severity of economic fluctuations.What are some things policymakers can do when higher inflation becomes a concern?

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Policymakers can cut governmen...

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Are there any situations in which running a budget deficit is justified? Explain.

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The two primary justifications for runni...

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Why might reforms to encourage saving lead to a less egalitarian society?

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Taxing saving at a lower rate ...

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List two of the three types of fiscal programs that the President and Congress emphasized in response to the 2008-2009 recession.

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“Shovel ready” public works pr...

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Proponents of requiring the government to balance its budget argue that debt burdens future generations.Explain one claim they make to support this argument.

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High debt means that future taxpayers wi...

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Why might tax cuts be more appropriate than increasing government expenditures to counter recessions? Is there any evidence for this thinking?

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Tax cuts affect aggregate demand quickly...

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What component of GDP is particularly volatile over the business cycle and can be targeted by tax cuts?

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Investment...

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