Social insurance programs are conditioned on events, rather than means
Indicate whether the statement is true or false
T
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The constant growth rate rule for money, as initially proposed by Milton Friedman, has been adjusted ________
A) to take the problem of moral hazard in account B) to account for the role played by adaptive expectations in policy formation C) for the difference between real and nominal economic variables D) to allow for possible short-run movements in velocity
Timber producers destroy many acres of rainforests every year. To prevent deforestation, the government imposed a quota on the number of trees that were cut by the timber producers. The quota was imposed by the government to prevent _____
a. the free rider problem b. the tragedy of the commons c. asymmetric information d. deadweight loss
Which of the following is an example of a positive, as opposed to normative, statement?
a. When the minimum wage is increased, unemployment is a predictable consequence. b. The income tax rate should be increased to offset the budget deficit. c. Increasing government spending is the best way to help the economy move out of a recession. d. More than one of the above are positive statements.
The size of the multiplier associated with an initial increase in spending will be:
A. the same whether or not inflation occurs. B. diminished if inflation occurs. C. zero if any increase in the price level occurs. D. enhanced if inflation occurs.