Many government programs, such as unemployment compensation, operate on a deficit during recessions and a surplus during periods of economic expansion. The programs are referred to as
A. automatic stabilizers.
B. discretionary fiscal policy.
C. Ricardian equivalence.
D. Recognition time lag.
Answer: A
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The gross domestic product for the above economy is:
A. $100.
B. $95.
C. $110.
D. $107.
As workforces become more educated in countries with comparative advantages in labor-intensive products, cheap labor becomes:
A. less abundant relative to skilled labor. B. more abundant relative to skilled labor. C. more abundant relative to capital. D. None of these is true.
In markets with ____________________ & investment value revelation, all transactions take place at true market value.
Fill in the blank(s) with the appropriate word(s).
Which of the following could be responsible for the depreciation of a country's currency?
A. The country expands its tourist industry. B. The country defaults on bonds held by foreigners. C. The country experiences a sudden drop in the rate of inflation while other nations do not. D. Speculators anticipate economic growth in that nation.