In a __________ plan, employees may choose __________
A) defined benefit; the assets they invest in
B) defined benefit; the benefits received during retirement
C) defined contribution; the assets they invest in
D) defined contribution; the benefits received during retirement
C
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What is the goal of fiscal policy, and what tools have policymakers traditionally used to conduct fiscal policy?
What will be an ideal response?
Economic growth can be depicted as a
A) shift in the contract curve. B) a change in the dimensions of the Edgeworth box. C) a change in the preference curves of individuals. D) a change in the number of people in the Edgeworth box.
The biggest difference between using a Pigovian tax or a tradable allowance to correct for a negative externality is:
A. the government collect revenues from the tax, and the private parties trade quota rights on their own. B. the tax creates an efficient outcome, and the tradable allowances do not. C. the tax maximizes total surplus, but the tradable allowances do not. D. All of these are differences between the two government policies.
If price is above the equilibrium price, then there will be:
A. neither excess supply nor excess demand. B. excess demand. C. both excess supply and excess demand. D. excess supply.