Automatic stabilizers cause an increase in total revenue for the government as the economy enters a recession.
Answer the following statement true (T) or false (F)
False
Automatic stabilizers cause a decrease in total revenue for the government as the economy enters a recession.
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Hospitals announce that there are not enough nurses available to keep them fully staffed. Economically speaking, what does this announcement mean?
A) The market wage for trained nurses is currently above the equilibrium wage. B) There is currently a surplus of nurses in this market. C) The market wage for nurses will eventually rise to the market clearing wage. D) The market will adjust very rapidly to correct this imbalance because anyone can be a nurse without any training.
When you deposit funds in a bank and then the bank lends these funds to a borrower, the bank is engaged in
A) fiduciary investment. B) fraudulent behavior. C) universal banking. D) financial intermediation.
Total revenue divided by output = ___________.
Fill in the blank(s) with the appropriate word(s).
The following diagram shows a market equilibrium. D is the demand curve for a good and S is the supply curve of the good. The consumer surplus at a price of $b is given by the area:
a. ?below the curve D and above the market price of $b. b. ?above the curve D. c. ?below the curve S. d. ?below the curve D and above the curve S. e. ?below the curve D and above the market price of $d.