When the economy begins to slip into a recession, the automatic stabilizers cause transfer payments to ________ and tax collections to _________.
Fill in the blank(s) with the appropriate word(s).
increase; decline
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A decrease in the demand for dollars on the foreign exchange market, all else equal, will result in:
A) appreciation of the U.S. dollar and depreciation of the foreign currency. B) appreciation of the U.S. dollar and appreciation of the foreign currency. C) depreciation of the U.S. dollar and depreciation of the foreign currency. D) depreciation of the U.S. dollar and appreciation of the foreign currency.
One advantage of a partnership is
A) lower costs. B) they are easy to form. C) all the profits go to the older partner. D) they are double taxed.
The opportunity cost of an action is equal to: a. only the monetary payment the action required
b. the total time spent by all parties in carrying out the action. c. the highest valued opportunity that must be sacrificed in order to take the action. d. the value of all of the alternative actions that could have been taken.
When the government prevents prices from adjusting naturally to supply and demand,
a. it equates the amount buyers want to buy with the amount sellers want to sell. b. it adversely affects the allocation of resources. c. it improves equality and efficiency. d. it improves efficiency but reduces equality.