The distinction between discretionary fiscal policy and the use of automatic stabilizers is that _____
Fill in the blank(s) with the appropriate word(s).
automatic stabilizers, once adopted, are built into the structure of the economy.
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Cigarettes served as money in some POW camps during World War II. Given this fact, we would expect to observe
A) no one ever smoking a cigarette. B) people usually resorting to barter rather than using cigarettes as money. C) prices of other goods expressed in terms of cigarettes. D) only government-issued cigarettes being accepted as money.
Refer to Figure 2-12. If the two countries have the same amount of resources and the same technological knowledge, which country has an absolute advantage in the production of milk?
A) They have the same advantage. B) Tahiti C) Bora Bora D) cannot be determined
In the long run, all inputs are variable
a. True b. False
When there is an increase in demand,
a. the demand curve shifts toward the origin of the graph. b. the demand curve twists clockwise. c. the demand curve shifts away from the origin of the graph. d. the demand curve twists counterclockwise. e. a lower price has increased the amount of the good that consumers will buy.