Which of the following is the best example of an automatic stabilizer?
a. Welfare payments.
b. Foreign aid
c. Defense spending.
d. Highway construction.
a
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A price excludable public good is such that
A. both rivalry and exclusivity hold. B. exclusivity holds, but rivalry does not. C. neither rivalry nor exclusivity hold. D. rivalry holds, but exclusivity does not.
Ceteris paribus, if African countries experience a drought and purchase food from the United States, the currencies of the African countries should
A. Appreciate, and the dollar should depreciate. B. Depreciate, and the dollar should appreciate. C. Appreciate, and the dollar should appreciate. D. Depreciate, and the dollar should depreciate.
Refer to the table shown, which shows the demand schedule for a product sold by a monopolist. Marginal revenue is closest to zero:Price of product($)Quantity demanded per year$143$124$105$86$67
A. for every price. B. when price is below $10. C. when price is above $10. D. when price is $10.
When a person does NOT have to pay the full costs for using a scarce resource, then
A. the social costs of the resource are less than they would be if the "correct" amount of the resource were being used. B. the internal costs of using the resource are too high. C. more of the resource will be used. D. the use of the resource is not affected since society pays for the resource.