Governments generally take responsibility for
A. determining the moral code.
B. making sure the economy remains healthy.
C. deciding what is produced by most businesses.
D. the purchasing decisions of households.
Answer: B
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Automatic stabilizers were clearly in evidence during the recession of 2007-2009 as
A) tax revenues and transfer payments both decreased. B) tax revenues decreased. C) tax revenues increased. D) transfer payments decreased.
The savings rate ________ over the long run but ________ over the short run
A) is constant as Keynes assumed; varies as Friedman assumed B) is constant as Friedman assumed; varies as Keynes assumed C) is constant as Friedman assumed; varies as Friedman assumed D) varies as Keynes assumed; varies as Keynes assumed
The amount of income people have left after taxes is called
A. boot. B. net profit. C. disposable income. D. excise income.
On the forms to open a checking account, automatic bill paying is often the default option, with a box to check if one wants to opt out. This is an example of a:
A. push. B. flawed assumption. C. shadow price. D. nudge.