Pick the best answer using the economic way of thinking. If information is a scarce good, then ignorance might be
A) a sin.
B) stupid.
C) bliss.
D) rational.
E) inefficient.
D
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The government in the country of Zappoo is trying to decide which tax plan to implement. The table above shows three alternative plans. If the government decides to implement a progressive income tax, it will implement tax plan ________
A) A B) B C) C D) A or B
The distinction between discretionary fiscal policy and the use of automatic stabilizers is that:
a. only discretionary fiscal policy can stimulate the economy b. only automatic stabilizers can stimulate the economy. c. discretionary fiscal policy, once adopted, is built into the structure of the economy. d. automatic stabilizers, once adopted, are built into the structure of the economy. e. only discretionary fiscal policy can be used by the federal government.
The balanced budget multiplier has a range from zero to 1
Indicate whether the statement is true or false
Total fixed cost
a. increases as output increases. b. declines as output increases. c. is always zero. d. remains constant even if the firm shuts down.