Multiple Choice control the rising inflation due to the COVID recession. increase indirect payments to consumers using tax cuts. widen the GDP gap by increasing the government's debt. shrink the GDP gap that emerged due to the COVID recession.
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The Coronavirus Aid, Relief, and Economic Security Act (CARES) helped to
-
control the rising inflation due to the COVID recession.
-
increase indirect payments to consumers using tax cuts.
-
widen the
GDP gap by increasing the government's debt. -
shrink the GDP gap that emerged due to the COVID recession.
CARES ACT is legislation by the US government to give some relief to the people due to the covid 19 pandemic.
under this act, the beneficiaries get direct payments some rebates for couples with children, and benefits for unemployed people who lost their jobs.
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Solved in 3 steps
- Discretionary spending is spending that must appropriated by Congress each fiscal year. Mandatory spending is spending that does not require congressional or presidential action once the programs are established. For each item, indicate whether it is an example of discretionary or mandatory spending. Discretionary Defense spending Spending on national parks Funding of the FBI Mandatory Social Security Medicare OGovernment spending on programs such as Social Security and Medicare are included under: discretionary spending emergency spending mandatory spending budget revenuesCompare the impact of a recession that reduces consumer income by 10 percent on the consumption of durable goods and house rentals. Suppose that the income elasticity of demand for durable goods is 1.5 and the income elasticity of demand for house rentals is 0.3. Based on your response, make a policy argument to support through government funding either businesses or house rentals.
- The Kenya government budget for the fiscal year 2016/2017 had the following key budgetary items Cash payments for the elderly, disabled and orphans = Ksh 10 billion Salaries for civil servants = Ksh 200 billion Remunerative Allowances for constitution commissions = Ksh 30 billion Salaries for state corporations staff = Ksh 12 billion Payments for Treasury bills and Bonds = ksh 110 billion Allowances payments to civil servants = Ksh 6 billion You are also informed that sixty per cent the payments for Treasury bills and bonds was paid to foreign citizens and that the total personal incomes to Kenyans for the fiscal year was Ksh 700 billion. Use the above information to calculate the size of public sector in Kenya for the fiscal year 2016/2017.C = 450 + 0.4Y I = 350G = 150X = 70Z = 35 + 0.1Y T = 0.15YYf = 1550Calculate the tax revenue to the government of this country when the economy (2) remains in equilibrium.Calculate what the new equilibrium income should be if the government of this (6) country decides to cancel all taxes, implying the tax rate would now be 0%.Before the government decreased the tax rate, how much of government spending was required to bring the economy to full employment?The Avengers government allocates $15 billion to military spending and $29 billion for local aid a year. They collect $70 billion in tax revenue quarterly. What percentage of the Avengers government total annual tax revenue is left for the remaining categories of government spending? 37.15% 84.29% 62.85% 15.71%
- Higher corporate taxes, higher capital gains taxes, and higher marginal tax rates shift aggregate supply left, causing price level to rise while reducing real GDP output. shift aggregate demand left, causing price level to rise while increasing real GDP output. shift aggregate supply left, causing price level to rise while increasing real GDP output. creates entrepreneurial incentives to innovate, and provides more government revenue which allows more government spending to increase fairness.In 1968, mandatory government spending was approximately ________ of GDP and in 2108 mandatory government spending was about ________ of GDP. 10%, 12.5% 5% , 5% 5%, 12.5% 10%, 10%An equal increase in government purchases and taxes will cause an increase in real GDP. no change in real GDP. an increase in the budget surplus. a reduction in cyclically adjusted budget surplus.
- When supply-side economists propose cuts in tax rates, most mainstream economists are likely to take the position that they will be: Group of answer choices Effective because the supply-side effects will outweigh the demand-side effects Effective because the demand-side effects will outweigh the supply-side effects Ineffective because the demand-side effects will outweigh the supply-side effects Ineffective because the demand-side and supply-side effects will offset each otherRevenue from tax is always greater than government spending in SouthAfrica;A simultaneous increase in taxes and increase in government spending would result to the following: