Examine whether the following items are built-in stabilizers or discretionary changes.

Economics 211

1.Examine whether the following items are built-in stabilizers or discretionary changes.

(a) Unemployment benefits

(b) Tax cuts

(c) An increase in government spending on road work

(d) Progressive tax system

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2. What fiscal policy is most likely to be invoked during a period of recession and high unemployment? A period of rapid inflation?

3. Use the figures in the table below to answer the following questions.

Billions
Small time deposits
Money-market mutual funds held by businesses

Savings deposits, including money-market deposit accounts

Money-market mutual funds held by individuals

Checkable deposits

Currency

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