Which of the following would not be classified as a mechanism of self-control?
A. An alcoholic campaigning for higher liquor taxes.
B. Having an alarm system installed in your home.
C. Leaving a credit card at home when you walk in the mall with friends.
D. An overweight person joining a weight-watchers group.
Answer: B
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Which of the following does not describe a characteristic of short-term economic fluctuations?
A. Expansions and recessions are felt in only a few sectors of the economy. B. The unemployment rate rises during recessions. C. Durable-goods industries are more sensitive to short-term fluctuations than service and non-durable industries. D. Expansions and recessions are irregular in length and severity.
Refer to the above figure. If real GDP is $4 trillion, then
A) actual investment spending equals $1 trillion as planned investment spending plus unplanned inventory increases equal $1 trillion. B) consumption expenditures are too low. C) unplanned inventories will decrease. D) unplanned inventories will increase.
An increase in the corporate profits tax will most likely lead to:
a. a decrease in the rental rate of capital in the corporate sector. b. no change in the rental rate of capital in the corporate sector. c. no change in the rental rate of capital in the non-corporate sector. d. an increase in the rental rate of capital in the corporate sector.
Transfer payments are government grants, subsidies, or gifts to individuals or firms.
What will be an ideal response?