Automatic stabilizers are
A. tools used by the President's Council of Economic Advisers.
B. provisions that cause changes in government spending and taxes without new action by Congress or the President.
C. policies set by certain committees in Congress.
D. provisions that cause the aggregate supply curve to be upward sloping.
Answer: B
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A firm is currently selling its output for $10 per unit and is producing where marginal revenue equals marginal cost at an output level of 100 units
If the firm's total variable costs are $900 and its fixed costs are $300 should it produce in the short run or shut down?
The above figure shows a graph of the market for pizzas in a large town. No pizzas will be supplied unless the price is above
A) $0. B) $5. C) $12. D) $14.
Is it possible that deficits do not burden future generations?
The imposition of a per unit tax on a product
A. will cause the supply curve to shift upward and to the left. B. will cause the supply curve to shift downward and to the right. C. will reduce the quantity supplied of the product. D. will encourage producers to increase the quantity supplied of the product.