Of the stimulus package proposed by the Bush Administration in 2008,
A. the tax rebates were adopted while, the extension of temporary tax cuts was rejected.
B. none of the proposed components of the package were actually implemented.
C. all of the proposed components of the package were quickly implemented.
D. the tax rebates were rejected while, the extension of temporary tax cuts was adopted.
Answer: A
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In the computation of GDP, Social Security payments count as
A) transfer payments and are included in GDP. B) transfer payments and are not included in GDP. C) government expenditure on goods and services and are included in GDP. D) government expenditure on goods and services and are not included in GDP.
What makes the macroeconomic performance of the 1993 to 1998 period so unusual is the
A. simultaneous occurrence of unemployment and inflation increases. B. simultaneous occurrence of real GDP decreases and inflation rate increases. C. occurrence of real GDP decreases while the unemployment rate increases. D. simultaneous occurrence of reduced unemployment rates and falling inflation rates.
There is a trade-off between having prices that the government believes are too low and having a chronic excess supply
Indicate whether the statement is true or false
Table 28.1Reduction in Emissions (in tons)MC to Reduce Emissions by Steel PlantMC to Reduce Emissions by Paper Plant1$400$20025002803600320Refer to Table 28.1. Suppose the government allows these two firms to trade pollution permits. The most efficient transaction would result in
A. The paper plant reducing its emissions. B. Zero pollution. C. The steel plant reducing its emissions. D. Both plants reducing their emissions.