Transfer payments
A) are included in the government expenditure category in gross domestic product.
B) refer to all payments made to households by governments.
C) refer to payments made by the government that are not made to purchase a good or service.
D) are made by households to firms in exchange for goods and services.
C
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Discretionary monetary policy was more frequently employed than discretionary fiscal policy in the two decades following World War II because
A) economic conditions did not seem to require any use of fiscal policy tools during this period. B) economists did not yet believe in the effectiveness of fiscal policy. C) inflation was not yet seen as a problem. D) monetary policy could be altered without Congressional action. E) monetary policy was thought to be capable of raising output while holding down prices.
If the government regulates the market in the above figure in a way to achieve efficiency, then ________ vaccinations will be produced and consumed
A) 0 B) 30 thousand C) 50 thousand D) None of the above answers is correct.
The __________ lag refers to the problem of getting an accurate fix on what is happening in the economy
A) recognition B) realization C) impact D) None of the above.
If Jenna buys a CD at a price of $10, she gets a consumer surplus of $20 . This means she
a. does not have enough money to buy the CD b. will not buy the CD since marginal utility is not high enough c. was willing to pay as much as $30 for the CD d. was willing to pay as much as $20 for the CD e. will have $30 left over after she buys the CD