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  • Fluctuations in total national output, income, and employment, usually lasting 2-10 years, marked by periods of expansion or contraction in most sectors of the economy are called: #61
  • Which of the following attributes business fluctuations to the expansion and contraction money and credit? #62
  • An increase in taxes is a(n): #63
  • The … of a decision is the value of the good or service forgone. #64
  • An increase in the money supply is a(n): #65
  • Fiscal policy refers to the: #66
  • Fiscal drag occurs when: #67
  • The … lag for fiscal policy is generally … than it is for monetary policy. #68
  • Which of the following is not true about public-choice theory? #69
  • What do economists call a tax that causes higher-income individuals to pay a higher percentage of their income as tax than lower-income individuals? #70
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