Which of the following is NOT an automatic stabilizer?
A. A change in the tax rate to fight a recession.
B. A decrease in tax collections due to a recession.
C. Decreased unemployment benefits as the economy expands.
D. Increased public assistance payments during a recession.
A. A change in the tax rate to fight a recession.
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A version of the battle of the sexes game that results in disaster if each player plays his or her tough strategy is called
A) a prisoner's dilemma game. B) a chicken game. C) an assurance game. D) a pure coordination game.
The United States was able to produce temporarily outside its production possibilities curve for several years during World War II by doing which of the following?
A. Recruiting housewives to work in tank and airplane factories. B. Convincing workers who qualified for retirement to put off retirement. C. Pressing older machinery and equipment into use. D. Expansion of the work week. E. All of the choices are true
Authoritative estimates suggest that currently union workers on the average:
A. achieve no wage advantage over nonunion workers in the same occupation. B. realize a 5 percent wage advantage over nonunion workers in the same occupation. C. realize a 20-30 percent wage advantage over nonunion workers in the same occupation. D. realize a 15 percent wage advantage over nonunion workers in the same occupation.
Choose the letter below that best represents the type of shift that would occur in the following situation in the United States: Between 1930 and 1935, millions of U.S. farm families lost their farms, and less output was produced by the remaining farms. (See Figure 8.6.)
A. A. B. B. C. C. D. D.