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ECO 203 Week 3 Quiz

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ECO 203 Week 3 Quiz
This paperwork of ECO 203 Week 3 Quiz consists of:

1. The time between the legislation of fiscal policy and its effect on output and employment is called

2. The federal income tax is

3. The largest single item in the federal budget is

4. The Investment Tax Credit

5. The measured deficit would be larger if

6. Opponents of discretionary fiscal policy believe that it

7. Keynes blamed economic downturns primarily on

8. Keynes argued that planned saving was

9. A structural deficit

10. When aggregate planned expenditure falls short of potential output, the economy experiences Economics - General Economics Economics Systems . Discuss how your college education could be considered an investment in human capital. What is the opportunity cost of your degree?

Reference: Chapter 1, section 1.1: Economics and Chapter 2, section 2.1: Limited Resources.

Guided Response: Review and respond to at least two of your classmates’ posts by replying to their posts on how a college education contributes to human capital and the opportunity cost of a degree. Be sure to refer to concepts found in the reading when responding to your classmates.

Role of Government . Economics is the study of how society chooses to allocate its scarce productive resources (labor, capital, land, entrepreneurial talent).

In a mixed economy, elements of both central planning and market allocation of resources are used in allocating productive resources. The United States economy is a mixed economy, with a bias towards market allocation of resources. This means most resources are allocated in the private sector by way of markets.

Discuss whether you favor a larger or smaller role of government in the economy. Refer to concepts found in t...

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You may want to develop a set sleep schedule when you are in college. Sleep deprivation is common amongst

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