When a transaction takes place repeatedly, then one way to signal to avoid information asymmetry is:
A. building a reputation.
B. screening.
C. statistical discrimination.
D. Any of these could be true.
A. building a reputation.
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In a recession, needs-tested spending ________ and induced taxes ________
A) increases; increase B) increases; decrease C) decreases; increase D) decreases; decrease E) increase; do not change
The Keynesian theory implied the relationship between inflationary pressures and the level of unemployment; further research proved this relationship and it was coined the _________ curve.
a. Phillips b. Keynesian c. Say d. inflation
For which of the following workers would the substitution effect be more likely to outweigh the income effect of an increase in wage?
a. air traffic controller b. marketing manager c. waitress d. dentist
Table 5.3National Income Accounts (dollar figures are in billions)Expenditures for consumer goods and services$8,200Exports$1,700Government purchases of goods and services$2,500Social Security taxes$1,900Net investment$1,400Indirect business taxes$1,400Imports$1,900Gross investment$1,800Corporate income taxes$600Personal income taxes$1,500Corporate retained earnings$130Net foreign factor income$100Government transfer payments to households$1600Net interest payments to households$500On the basis of Table 5.3, the value of the income aggregate that is defined as "the part of disposable income not spent on current consumption" (also known as savings) is
A. $370 billion. B. $500 billion. C. $8,570 billion. D. -$500 billion.