What are automatic stabilizers?
a. Laws setting up responses to changes in the economy that Congress does not have to discuss and pass when the change occurs.
b. Laws setting up responses to changes in the economy that Congress will discuss and vote on when the change occurs.
c. Actions Congress takes when it has determined that laws should be passed to stimulate the economy.
d. Actions Congress takes when it has determined that laws should be passed to contract the economy.
a. Laws setting up responses to changes in the economy that Congress does not have to discuss and pass when the change occurs.
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Consider the following data for a closed economy:
Y = $12 trillion C = $8 trillion I= $2 trillion G = $2 trillion TR = $2 trillion T = $3 trillion
Which of the following is NOT a practice that prevents risk-shifting by a borrower?
A) limited-liability ownership B) placing liens on collateral C) personal guarantees D) restrictive covenants
Which of the following is the best example of a disruptive market change related to international trade?
a. a domestic manufacturer opens a new state-of-the-art facility in the home country b. an international manufacturer opens a new state-of-the-art facility in the home country c. an international manufacturer develops a completely robotic manufacturing process d. a domestic manufacturer replaces one international supplier with another international supplier
The economy is considered to be at full employment when
a. the actual rate of unemployment is less than the natural rate b. the leading economic indicators are unchanged for two consecutive quarters c. structural unemployment is zero d. frictional plus structural unemployment is less than the natural rate e. the rate of cyclical unemployment is zero