An example of an automatic stabilizer is:
A. increased unemployment rates cause the government to pay out more in unemployment insurance.
B. increased tax revenues due to nominalincome going up during a boom.
C. reduced unemployment rates during a boom means more people working, and the government pays less out in food assistance.
D. All of these are examples of automatic stabilizers.
D. All of these are examples of automatic stabilizers.
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Refer to the scenario above. What is the size of the labor force in the economy?
A) 6 million B) 3 million C) 4 million D) 5 million
Can nominal GDP decrease when the price level remains the same?
A) No, it is not possible. B) Yes, but only if real GDP decreases. C) Yes, but only if real GDP increases. D) Yes, but only if real GDP remains the same as well.
A monopoly will always sell rather than rent its product
Indicate whether the statement is true or false
According to the classification in the text, which of the following is not an industrially advanced country (IAC)?
a. Singapore. b. Hong Kong. c. United Arab Emirates. d. Ireland.