The process by which an economic variable is adjusted to remove the effects of changes predicted to occur at the time of year is known as
a. structural change
b. real change
c. macroeconomic adjustment
d. unemployment adjustment
e. seasonal adjustment.
E
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In a two-period model with production, a permanent increase in domestic government spending
A) increases domestic output and increases the current account surplus. B) increases domestic output and decreases the current account surplus. C) decreases domestic output and increases the current account surplus. D) decreases domestic output and decreases the current account surplus.
With a negative income tax featuring an $8,000 minimum level of income and a 20% tax rate, a household earning $8,000 dollars would receive a subsidy of:
a. zero b. $1,600 c. $6,400 d. $8,000
How much a country's economy will produce at its potential output is also called: a. the trough of the business cycle. b. its economic welfare
c. the trend line. d. the natural rate of output.
The figure below presents information for a one-shot game.Firm AFirm B??Low PriceHigh Price?Low Price(2,2)(10,-8)?High Price(-8,10)(6,6)What are the Nash equilibrium strategies for firm A and B respectively?
A. (high price, low price) B. (low price, low price) C. (high price, high price) D. (low price, high price)