The primary benefit of the automatic stabilizers is:
a. they provide public assistance through legislative decision making
b. they require no new legislative action, so there is no legislative lag before these tools respond to fluctuations in the business cycle.
c. they require legislative action, so there is a lag in response to these tools to fluctuations in the business cycle, and there is time to identify the spillover effects.
d. none of the above.
b
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Labor productivity measures output per hour of work.
Answer the following statement true (T) or false (F)
One reason that U.S. exports of commercial services have increased steadily over the past 25 years is that
A) European and Asian nations have shown little interest in developing their own commercial services sectors. B) the United States has made significant investments in new information technologies. C) the U.S. government owns and operates most of the economy's service sector. D) the U.S. economy operates like one big corporation.
The change in total welfare from a 10% increase in price will depend only on the elasticity of demand
Indicate whether the statement is true or false
Expected value and expected utility are synonyms.
Answer the following statement true (T) or false (F)