Which one of the following is NOT an automatic stabilizer?
A. unemployment compensation programs
B. the system of welfare payments
C. the system of national defense procurement
D. the income tax system
Answer: C
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The ________ traces out the points for which total quantity of goods produced equals total quantity of goods demanded
A) LM curve B) IS curve C) consumption function D) investment schedule
Money can BEST be described as:
A) anything that is generally accepted as payment for goods and services or in the settlement of debts. B) paper that can be used to purchase goods and services C) commodities that have intrinsic value D) any form of wealth possessed by consumers
Evidence of a negative correlation between income per capita and population growth rates ________
A) implies that birth control is most effective in low-income countries B) has not been found in the available data C) is consistent with the Solow model D) suggests that population growth stimulates technological progress
A system of economic organization in which the ownership and control of productive capital assets rests with the state and in which resources are allocated through central planning and political decision making is called
a. socialism. b. a market economy. c. a corporate economy. d. capitalism.