Taxes and government spending that affect fiscal policy without specific action from policymakers are called:
A. automatic stabilizers.
B. discretionary fiscal policy.
C. expansionary fiscal policy.
D. contractionary fiscal policy.
A. automatic stabilizers.
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If the amount you owe on your house is greater than the price of the house, you have
A) negative equity in your house. B) no value to your house. C) a reverse mortgage on your house. D) a mortgage rate that is too high.
Why have so many regional trade arrangements among developing countries failed? Why might MERCOSUR have a better chance for success than the East African Common Market?
What will be an ideal response?
The term utility refers to the:
a. usefulness of a good in relation to its scarcity. b. necessity of a good. c. price of a good. d. number of goods a consumer has. e. pleasure or satisfaction a consumer receives upon consuming a good.
A movement along a demand curve is called a change in:
a. income. b. quantity demanded. c. demand. d. tastes. e. population.