When the Federal government uses taxation and spending actions to stimulate the economy it is conducting:
a. Employment policy
b. Monetary policy
c. Fiscal policy
d. Incomes policy
c. Fiscal policy
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In the health insurance market, adverse selection occurs when
A) chronically ill people buy health insurance. B) insured people go to the doctor unnecessarily. C) patients sue their doctor. D) people with health insurance tend to behave more recklessly.
The classical economists believed
A. wages and prices were inflexible downward. B. if nothing was done, recessions would become depressions. C. recessions needed quick countercyclical action by the government. D. the economy was essentially self-regulating.
In 2006, the European Union imposed antidumping duties of 10% to 16.5% on products imported from China. What were those products?
a. wooden pencils b. shirts c. shoes d. coated paper
Use the above figure. Which graph depicts substitute goods?
A. A B. B C. C D. D