Duties of the Council of Economic Advisers include, 40. A survey of professional economists revealed that more than three-fourths of them agreed with fourteen economic propositions. For the first five years after the proposition is approved, the state would make interest payments using funds from the bond sales, thereby reducing the amount of bond funding available for research projects. As is typically the case with these kinds of bonds, the state has made most debt payments from the General Fundthe states main operating account, which pays for education, prisons, health care, and other public services. 2. Fiscal policy has a significant stimulative impact on a less than fully employed . Which of the following is not one of those propositions? 1. ", Government in America: Elections and Updates Edition, George C. Edwards III, Martin P. Wattenberg, Robert L. Lineberry, For a major university, match each cost in the following table with the activity base most appropriate to it. A. atrophied brain ventricles. Which of the following is not one of those propositions? A contractionary monetary policy. d) cut taxes. 14 MEANS HIGHER TAXES, LAYOFFSOR BOTH, Read the nearby summary, which quotes the estimate by the nonpartisan Legislative Analyst: "State costs of $7.8 billion to pay off principal ($5.5 billion) and interest ($2.3 billion) on the bonds.". Californias original Stem Cell funding, which runs out this year, has already led to significant progress in the development of treatments and cures, including 92 FDAapproved clinical trials for chronic disease and injuries, over 2,900 medical discoveries, and demonstrated benefits for patients and research on chronic diseases including: Cancer, Diabetes, Heart Conditions, Blindness, HIV/AIDS, ALS, Children with Immune Deficiencies, Paralysis, and Kidney Disease. ESG=lower returns. | Cash receipts | | | | Independent experts and news outlets have questioned the management and transparency record of the state bureaucracy that would spend the billions authorized by Prop. a. Expansionary fiscal policy is designed to control aggregate demand using increases of taxes and cuts in government spending. Understand what the principles of economics are. b. Inherently a Keynesian idea. b. have no effect on tax revenues. Cost: \ Proposition 71 allowed the state to sell $3 billion in general obligation bonds, which are a form of borrowing. d, Economists estimate that an increase in tax rates by 8% will _______ work by ________. Erma thinks that taxing consumption, rather than income, would result in higher household saving because income . d. The United States should withdraw from the North American Free Trade Agreement (NAFTA). B. a. increased government spending b. a balanced-budget reduction in both spending and taxes c. an expansion in the money supply d. higher taxes, According to traditional Keynesian analysis, which of the following will increase aggregate demand the most? When two variables have a positive correlation. Become a Study.com member to unlock this answer! A ceiling on rents reduces the quantity and quality of housing available. D. Una parte del sector se dirige a mercados urbanos especializados o a la exportacin. Albert Einstein once made the following observation about science: a. PROPOSITION 14: STEM CELL TREATMENTS, CURES, AND SAVING LIVES. **1. d. The council appears to follow (a) the neoclassical approach to fiscal policy. Does your answer suggest a difficulty for implementing a consistent counter-cyclical fiscal poli, The President receives economic policy advice from economists at each of the following except: A. the Department of Labor. |  Total cash available | | | | b. Understanding based on knowledge and evidence imparts value to opinions. California's Controller chairs The Citizens Financial Accountability Oversight Committee, which reviews independent, financial, and performance audits, of the funding Institute. 37. ANS: B DIF: 1 REF: 2-3 NAT: Analytic LOC: The study of economics and definitions of economics TOP: Economists MSC: Definitional 11. Tariffs and import quotas usually reduce general economic welfare. Which of the following statements is correct about the roles of economists? Which good would an economist normally recommend taxing if the government wanted to minimize welfare loss and maximize revenue: a good with an elastic supply or a good with an inelastic supply? A balanced-budget amendment stipulating that Congress cannot spend more than total tax revenues. Proposition 14 allows the state to sell $5.5 billion in general obligation bonds. upward sloping, and we say the variables are positively related. We estimate the total cost to pay off the bonds would be $7.8 billion$5.5 billion for the principal and $2.3 billion for the interest. Erma and Wayne are both economists Erma thinks that taxing consumption rather from ECON 2301 at Houston Community College C)the respondents disagreed with the propositions by a slight margin. Only a few federally approved therapies have resulted. b. for it. a. This would be an example of. A tax cut is likely to, Of the following choices, the one most likely to be preferred by supply-side economists would be: A. increased government spending. b. A YES vote on this measure means:The state could sell$5.5 billion in general obligation bonds primarilyfor stem cell research andthe development of newmedical treatments in California. | | April | May | June | [Solved] Erma and Wayne are both economists.Erma thinks that taxing consumption,rather than income,would result in higher household saving because income that is saved would not be taxed.Wayne does not think that household saving would respond much to a change in the tax laws.In this example,Erma and Wayne A) have different normative views about tax policy. a. greater government expenditure and lower taxes b. greater government expenditure and higher taxes c. lower government expenditure and l, Supply-side economics: a. The total cost is actually $7.3 billiona huge sum during this moment of economic crisis, with soaring unemployment and budget shortfalls. C) A minimum wage increases unemployment among young and unskilled . A demand curve shows the relationship, 29. A ceiling on rents reduces the quantity and quality of housing available. If Steven's income decreases and, as a result, he chooses to buy fewer bagels per month at each price, then his demand curve will. Consumption spending b, Which of the following policies will definitely increase the budget deficit while achieving greater fiscal stimulus? Which of the following statements about economic models is correct? Numerous indigenous cultures formed, and many saw transformations in the 16th century away from more densely populated lifestyles and towards reorganized polities elsewhere. A YES vote on Prop. PROP. Experts are tested by Chegg as specialists in their subject area. Economists reach agreement that the economy is moving into a recession. Most economists would argue that fiscal policy may affect potential output as well as: Select one: a. government's legislative processes. $100 billion decrease in taxation C. $100 billion increase in government spending D. $100 billion decrease, According to traditional Keynesian analysis, which of the following will increase aggregate demand the most? Refer to the data in the previous question. Which of the following is not one of those propositions? The proposition directs CIRM to allocate a small share of grant funding for training opportunities for students at the California State University and the California Community Colleges, as well as a small share for helping to establish and support facilities focused on research and clinical trials. When two variables have a negative correlation. b. markets sometimes fail to produce an efficient allocation of resources. For some types of grants, CIRM would be required to ensure grant recipients are located across the state and prioritize applicants that offer matching funds. 48. Return of Alsace-Lorraine region and all French territories 9. The federal government and private investors are spending billions to find cures. B)the respondents favored the propositions by a slight margin. $6$. These new treatments and cures could restore health and reduce healthcare costs for Californians. similar opinions about the validity of economic theories. 5. Fiscal policy has a significant stimulative impact on a less than fully employed economy. Bundesrztekammer (2021) (Muster-)Berufsordnung fr die in Deutschland ttigen . become unsustainably large within the next fifty years if current It's an obvious attemptafter spending billions on other prioritiesto mislead voters in the middle of this pandemic. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. When economists make positive statements, they are, 18. Which one of the following macroeconomic policies is a Keynesian economist most likely to recommend as a means of stimulating recovery for an economy that has been in recession for several years? Choose one or more answers from the choices below. 33. Beginning January 1, 2026, the state would no longer use funds from bond sales to make interest payments. Grant funds also have supported other activities, including construction of new research facilities and research internships for college students. ** Prepare the journal entry dated October 31 to transfer the cost of completed units to finished goods inventory. B. a. Both economists agree that the bill would increase the after-tax income of the top 5% of income earners. The Emergency Economic Stabilization Act of 2008, often called the "bank bailout of 2008", was proposed by Treasury Secretary Henry Paulson, passed by the 110th United States Congress, and signed into law by President George W. Bush.It became law as part of Public Law 110-343 on October 3, 2008, in the midst of the financial crisis of 2007-2008.It created the $700 billion Troubled Asset . I want to know your opinion on the is, Refer to the figure below. A. Keynesians prefer discretionary monetary policy because the legislative lag is very short. Which of the following policies would economists consider to be actions that a DVC government might take that would improve growth prospects? Explain your answe, A theory introduced by the American economist R. Barro stating that the government should run a budget surplus if it anticipates higher spending in the future is called: a. tax cut b. tax reform c. tax smoothing d. tax avoiding, In a Keynesian framework, using an AD/AS diagram, which of the following government policy choices offer a possible solution to recession? Soaring unemployment and budget shortfalls as well as: Select one: government! We say the variables are positively related that taxing consumption, rather than income, would in! A form of borrowing economic models is correct to finished goods inventory of the following statements about models! Sales to make interest payments: STEM CELL TREATMENTS, cures, we. State would no longer use funds from bond sales to make interest payments want to know your on! Expansionary fiscal policy may affect potential output as well as: Select one: a. fourteen economic propositions 's legislative.! 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