During contractionary face of business cycle which of the following most likely occurs?Which of the following pairs of terms is used to describe fluctuation in the economy? (d) Contractionary monetary policy15. Which of the following pairs of terms is used to describe fluctuations in the economy?a) Real and Nominalb) Expand and contractc) Revenue and expenditured) Deficit and debtNr.16. During a contractionary phase of the business cycle, which of the following most likelyoccurs?a) More tax revenues are remittedb) More goods and services are producedc) Fewer people are unemployedd) Fewer people are employed17. Which of the following regulations prevent price gouging?a) Price floorsb) Price fixingc) Price ceilingsd) Price inflation18. What does fiscal policy include?a) Taxesb) Interest ratesc) Government spendingd) a and c4

Answered: 15. Which of the following pairs of…

15. Which of the following pairs of terms is used to describe fluctuations in the economy? a) Real and Nominal b) Expand and contract c) Revenue and expenditure d) Deficit and debt

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter36: Six Debates Over Macroeconomic Policy

Section: Chapter Questions

Problem 3QCMC

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Question

During contractionary face of business cycle which of the following most likely occurs? Which of the following pairs of terms is used to describe fluctuation in the economy?

(d) Contractionary monetary policy
15. Which of the following pairs of terms is used to describe fluctuations in the economy?
a) Real and Nominal
b) Expand and contract
c) Revenue and expenditure
d) Deficit and debt
Nr.
16. During a contractionary phase of the business cycle, which of the following most likely
occurs?
a) More tax revenues are remitted
b) More goods and services are produced
c) Fewer people are unemployed
d) Fewer people are employed
17. Which of the following regulations prevent price gouging?
a) Price floors
b) Price fixing
c) Price ceilings
d) Price inflation
18. What does fiscal policy include?
a) Taxes
b) Interest rates
c) Government spending
d) a and c
4

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