Which of the following does not qualify as an automatic stabilizer in the economy?
a. Lump-sum taxes
b. Food stamps
c. Welfare payments
d. Progressive income taxes
e. Unemployment compensation
a
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An expansionary gap is closed in the long run by a(n): a. rightward shift of the short-run aggregate supply curve
b. leftward shift of the short-run aggregate supply curve. c. movement to the right along a fixed short-run aggregate supply curve. d. increase in aggregate demand. e. decrease in aggregate demand.
In a traditional economy, innovation is encouraged
a. True b. False Indicate whether the statement is true or false
The national defense argument has been used in the past to justify trade restrictions by firms in the peanut industry and the pottery industry
Indicate whether the statement is true or false
Refer to Figure 36.4 for the dollar-yen foreign exchange market. A decrease in demand from D1 to D2 could have been caused by
A. A poor performance by the Japanese stock market compared to the U.S. stock market. B. A quota placed on Japanese television imports to the United States. C. A decrease in the demand for U.S. computers. D. An increase in the number of Japanese visitors to the United States.