We define autonomous expenditure to be expenditure that:
A. is unaffected by the current level of income in the economy.
B. that changes under the guidance of the government.
C. depends on how much income changes in the economy.
D. people make that pertains to the auto industry.
Answer: A
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What will be an ideal response?
Which of the following provides support for the use of discretion in economic policy-making?
A) any policy rule that is based on a particular model will prove wrong if that model is wrong B) the existence of a political business cycle C) the conclusions of Friedman and Schwartz with respect to monetary and fiscal policy D) the Watergate scandal
If there were no factors keeping wages from reaching equilibrium then there would be no
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A college student is thinking about running an ice-cream truck over the summer. Which of the following would likely be an ongoing expense of the business?
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