The economic impact of ________ during expansionary periods is to moderate growth.
A. positive demand shocks
B. tax cuts
C. implementation lags
D. automatic stabilizers
Answer: D
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Refer to the figure above. Which of the following statements is correct?
A) After the economy is open to free trade, it will export 6 pens. B) After the economy is open to free trade, it will import 6 pens. C) After the economy is open to free trade, it will export 10 pens. D) After the economy is open to free trade, it will import 10 pens.
Name and briefly describe the three balance of payments accounts
What will be an ideal response?
Specialization of labor means that: a. production requires a special kind of labor
b. the overall skill level of labor is increasing. c. individuals produce goods other than those they want to consume. d. individuals achieve self-sufficiency in production. e. exchange within an economy consists of trading in services.
According to the neoclassical model, what would not result from the government levying a tax on firms for each worker the firm lays off?
A. Moral hazard would encourage workers to not work as hard as before. B. Firms would be less likely to lay off workers. C. The long-run unemployment rate would decrease. D. Unemployed workers would remain unemployed for longer periods of time. E. Firms would be less likely to hire workers.