Investment tax credits are subject to ________ of the lags that occur with more conventional types of fiscal policy, making them ________ activist fiscal policy tool
A) none, a promising
B) none, an unpromising
C) some, a promising
D) some, an unpromising
D
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Compared to the level of real GDP per person in 1870, by 2010, real GDP in the U.S was ________ times larger, while real GDP per person in Japan was ________.
A. 12; 30 times larger B. 12; smaller C. 30; 12 times larger D. 12; 12 times larger
The effect of a compensated price change is known as:
A. the price effect of a price change. B. the income effect of a price change. C. the substitution effect of a price change. D. the replacement effect of a price change.
Suppose that the cost of installing an overhead pedestrian walkway in a college town is $150,000 . The walkway is expected to reduce the risk of fatality by 1.5 percent, and the cost of a human life is estimated at $10 million. The town should
a. install the walkway because the estimated benefit is twice the cost. b. be indifferent between installing and not installing the walkway because the estimated benefit equals the cost. c. not install the walkway, since the cost is twice the estimated benefit. d. install the walkway, since the cost of even a single life is too great not to take action.
When an economy is experiencing a negative output gap, there is:
A. inflationary pressure due to low demand. B. significant inflationary pressure due to low demand. C. inflationary pressure due to high demand. D. significant inflationary pressure due to high demand.