Both unemployment insurance and income taxes are examples of
a. economic cycle contributors
b. macro consensus
c. government regulation
d. automatic stabilizers
e. tax rates
D
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The standard IS curve is adjusted in new Keynesian theory to account for ________
A) the forward-looking behavior of households and firms B) the difference between real and nominal variables C) changes in GDP, or Gross Domestic Product D) the impact of a rising national debt
While limited in their practical applications, the real value of the Pareto criteria is in allowing the public interest to be judged without making interpersonal utility calculations
a. True b. False
Pure economic profit must be at a maximum for a monopolist who has a level of output in which total revenue is at a maximum
a. True b. False Indicate whether the statement is true or false
Why does an increase in the price level cause a decrease in real GDP demanded?
a. Consumer wealth increases. b. Net exports will increase. c. Interest rates decrease and cause higher investment. d. Net exports will decrease.