Deliberate changes in government expenditures and taxes to influence the level of aggregate demand in the United States
A. define automatic stabilizers.
B. define discretionary fiscal policy.
C. are enacted by the Council of Economic Advisers.
D. operate without time lags.
B. define discretionary fiscal policy.
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Refer to the production possibilities frontier in the figure above. Production point ________ represents an ________ production point
A) b; unattainable B) c; unattainable C) e; inefficient D) c; inefficient
The largest level of government as measured by total spending is _____
a. federal government b. state governments c. county governments d. city governments
The labor market for ultrasound technicians in Cleveland is initially in equilibrium. Which of the following would lead to a lower wage rate and higher employment in that market?
a. a drop in demand for diagnostic services at Cleveland hospitals b. a drop in the price of ultrasound equipment c. an increase in the length of training required for ultrasound technicians d. a shift in potential workers' tastes away from hospital and clinical work e. a wage decrease for ultrasound technicians in nearby cities
Which of the following statements is true?
A) Nations have generally moved toward freer international trade policies over the past few decades. B) Nations all over the world have recently raised trade barriers. C) Eastern Europe and the Former Soviet Union countries have reduced trade in the last couple of decades. D) NAFTA lowered trade barriers between the United States and Mexico but raised them between the United States and Canada.