An automatic stabilizer tends to increase GDP when it is rising.
a. true
b. false
Ans: b. false
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The "Okies" were associated with each of these EXCEPT
A. the Dust Bowl. B. John Steinbeck's The Grapes of Wrath. C. the Great Depression. D. the rust belt.
When economists say consumers, firms, or investors are behaving rationally, they mean:
A) they recognize that it is not worthwhile to invest in risky stocks B) they are taking actions to reach their goals, given the available information C) they have significant investment expertise D) they are consistently able to avoid poor performing stocks
A backward-bending portion of an individual labor supply curve is most likely to be observed: a. at lower wages
b. at higher wages. c. in manufacturing industries. d. in service industries.
Opportunity cost: a. Always refers to the dollar price paid for a good
b. Always equals the best alternative value of the time spent in going to a concert or sporting event. c. Of any good is zero for any good that is given away free, if you wait in a line to get it. d. Increases when the best foregone alternative becomes more valuable.