Jeopardy!

Fixed taxA deficit that occurs at full employment / Orson Welles most famous film number one on AFIs 100 greatest movies of all time.

(Automatic/Discretionary): Congress provides a one-time tax rebate to all tax payers. This occurs when expenditures exceed revenue over a given period of time. Large deficits tend to lead to higher/lower interest rates. Increased government spending which limits (I)/This duo scored a big hit with their album Speakerboxx/The Love Below

A tax that charges the poor a larger percent of their income than the rich may be described as this. A feature of the economy that reduces sensitivity toshocks(Automatic/Discretionary): Tax revenue increases as an improving stock market leads to increasing capital gainsThis is the sum of deficits over time. This describes the situation in which higher government spending leads to less (I). This rapper has starred in the movies The Italian Job and The Hitchhikers Guide/A government runs this when spending exceeds revenue.

A tax which does not vary with level of GDP If taxes and government spending increase the exactsame amount ($200 Billion), what will happen to GDP? (Expansionary/Contractionary)(Automatic/Discretionary):Congress votes to build a new interstate highway. _______ describes a deficit the government incurs at full employment. Low interest rates will lead the production possibilities frontier to do this in the future. The governments plan to steer the economy by manipulating spending and taxes / Hes a starting pitcher for the Yankees

A change in a fixed tax will simply shift theconsumption function. However, an increase in avariable tax will affect the consumption function inwhat way? In an economy with an income tax, the multiplier is likely to be ________ than without the tax. (Expansionary/Contractionary)(Automatic/Discretionary):Congress votes to create an expanded unemployment insurance programWhen unemployment is high the governments actual deficit will be _____ than the structural deficit. DAILY DOUBLE!

If MPC = .75, the tax rate is 20%, and you receive a$1000 bonus at work, how much will you spend? The multiplier for a change in taxes is _______ the multiplier for a change in government spending(Expansionary/Contractionary)(Automatic/Discretionary): Congress cuts funding to the National Teapot Museum, and uses the funds saved to increase transfer payments to Snapple, Inc. The group to which the federal government owes the largest portion of its debt. Assume the government runs a structurally balanced budget. If unemployment is high what will resulting budget balance be? DAILY DOUBLE!