An autonomous expenditure is one that does not depend on:
A) government policy
B) the automobile sector
C) interest rates
D) GDP
D
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Resources are all of the following EXCEPT
A) scarce and therefore require choices to be made. B) limited in quantity and can be used in different ways. C) unlimited and in abundance. D) the things we use to produce goods and services.
To help pull an economy out of a recession and put additional income in the hands of the public, a government can force its expenditures to ________ its revenues and create a ________
A) reduce; deficit B) exceed; special taxes C) stimulate; depression D) exceed; deficit
Refer to the figure above. In equilibrium, this country produces at point
A) B. B) C. C) D. D) E.
The government announces a tax increase on workers' wages to take effect in the future. What happens to current employment and the real wage rate?
A) Both employment and the real wage rate would increase. B) Both employment and the real wage rate would decrease. C) Employment would increase and the real wage would decrease. D) Employment would decrease and the real wage would increase.