All of the following are automatic stabilizers EXCEPT
A. unemployment compensation.
B. income transfer payments.
C. discretionary increases in government spending.
D. progressive income tax system.
Answer: C
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For a theme park a two-tier tariff can include a positive admission price and a zero per-ride fee
What will be an ideal response?
Which of the following helps low-income countries grow rapidly relative to high-income countries?
a. Low-income countries are in a better position to save a larger share of their income. b. Low-income countries can employ technologies and practices that have been successful in high-income countries. c. Low-income countries generally have legal systems that protect property rights and enforce contracts in a more evenhanded manner. d. Low-income countries generally have more favorable weather conditions.
If price rises, what happens to demand for a product?
a. It increases. b. It decreases. c. It does not change. d. Uncertain-economic theory has no answer to this question.
A legal limit on the amount of sugar imported into the United States is
A) a tariff. B) a subsidy. C) a quota. D) a voluntary import restriction.