Automatic fiscal stabilizers
a. keep the federal budget balanced.
b. keep the federal high employment budget balanced.
c. help to reduce the severity of recessions and inflationary boom periods.
d. increase structural deficits over the business cycle.
e. both c and d.
C
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The most basic concepts on which the social science of economics rests are
a. consumers and producers. b. money, interest rates, and exchange rates. c. supply and demand. d. scarcity and choice.
The total return on a share of stock is
A. the original price of the stock, divided by the change in the stock price. B. the total of dividends over a year, divided by the change in the stock price. C. the change in the stock price, plus the dividend, divided by the original price. D. the total of dividends plus the change in the stock price over a year.
On the graph for a monopolist’s losses, the firm suffers a total loss of ______.
a. $7
b. $100
c. $600
d. $700
Which of the following concepts does not represent basic trade-offs faced by a government?
A. The Phillips curve. B. Fine-tuning. C. Opportunity costs. D. The production possibilities curve.