28. Paying off the debt makes our society poorer when the debt is held by A. For

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28. Paying off the debt makes our society poorer when the debt is held by A. Foreign households B. U.S. households C. U.S. corporations D. State and local governments E. All of the above 29. When does the fiscal year begin for the Federal budget? A. January 1 B. July C. October 1 D. April 15 h of the following are factors which may limit the effectiveness of fiscal policy? A. The crowding out effect 30. Whic B. Time lags between the recognition of a macro problem and the implementation of corrective measures C. Political considerations which could alter the content and timing of fiscal policy D. All of the above 31. At the start of 2016 the federal debt is 6000. During 2016 the government spends 2100 and collects 2200 in taxes. What will the federal debt be at the start of 2017? A. 5900 . 6100 C. 8100 D. 8200 32. How can a federal budget deficit of $100 billion be monetized? A. By borrowing $100 billion from the World Bank B. By borrowing $100 billion on the money market C. By converting $100 billion from commodity money to fiat money D. By printing an extra $100 billion of money 33. What does it mean to say that a fiscal policy action is pro-cyclical? A. The policy action is favorable B. The action has the support of political professionals C. The action makes business cycle swings larger D. The action concerns subsidizing motorcycles 34. Which of the following statements about budgets is true? A. Both household budgets and the Federal budget are fairly large B. Similar to the Federal budget, household budgets take all year to work and plan on C. Both household budgets and the Federal budget have large unavoidable components D. Only the Federal budget must have balanced expenditures and revenues, while household budgets do not have to have these components balanced

Explanation / Answer

28. Paying off debts makes our society poorer when the debt is held by state and local governments.

29. Fiscal year begin for the federal budget in OCTOBER 1.

30. Factors which may limit the effectiveness of fiscal policy is the time lags between the recogntion of a macro probelm and the implementation of corrective measures.

31. At the start of 2016 federal debt= 6000 . During 2016 , govt. spends 2100 and collects 2200 in taxs. Then total federal debt in starting of year 2017 = (6000+2100-2200) = 5900.

32. Federal budget deficit of $100 billion can be monetized by borrowing $100 billion from the world bank.

33. The policy action is favourable.

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