During a recession, total public assistance payments and unemployment compensation payments automatically increase while income taxes automatically decrease. Which of the following best describes the effect of these changes on aggregate demand?
a. Aggregate demand will be less than it would be without these automatic stabilizers.
b. Aggregate demand will be the same as it was before the
recession.
c. Aggregate demand will be more than it would be without these automatic stabilizers.
d. Aggregate demand will be greater than it was before the recession.
c
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
For a normal good, a decrease in demand is caused by
A) a rise in income. B) a fall in income. C) a rise in price. D) a fall in price.
Which of the following statements is INCORRECT?
a. The Oil Pollution Act (OPA) was enacted in response to the BP Deepwater Horizon spill. b. The Ocean Dumping Act ends dumping of sewage sludge and industrial waste. c. The Great Lakes Legacy Act provides federal funding to address contamination of the Great Lakes d. Included in the Water Quality Act of 1987 were requirements for states to establish nonpoint source pollution program
It is generally ________ to fire a bad public school teacher ________.
A. easy; who has little interest in teaching any longer B. difficult; who has tenure C. easy; who has tenure D. impossible; who has committed a felony