Government policies that are used to affect aggregate expenditure, with the objective of eliminating output gaps, are called ________ policies.
A. stabilization
B. productivity
C. cyclical
D. structural
Answer: A
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Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
Which of the following would be categorized as an implicit cost?
a. not being able to spend your $10,000 savings if you sink the money in your business b. the cost of purchasing supplies for your house-cleaning business c. the cost of purchasing auto insurance for your dry-cleaning delivery business A) a only B) a and c only C) b and c only D) all of the above
If corporations have their choice, they will prefer to invest using
A. revenue from the sale of stocks. B. revenue from the sale of bonds. C. plowback. D. money borrowed from the bank.
The demand for MSW services
a. represents the production decisions of firms providing disposal or incineration services b. would likely be lower for higher income households c. would tend to be lower for more environmentally aware consumers d. all of the above e. none of the above