The _____ is the most important automatic stabilizer
Fill in the blank(s) with correct word
tax system
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The break-even point on the consumption function represents the point where
A) consumption is zero. B) income equals consumption plus spending. C) consumption equals spending. D) consumption equals income.
Lynn owns Dust Bunnies, a cleaning company. In one week, she is able to clean 9 houses. If she hires an employee, together they are able to clean 15 houses per week
If Lynn charges $100 to clean a house, and she pays her employee $400 a week, should she hire this employee? A) Yes, because the value of marginal product of the worker is less than the wage. B) Yes, because the value of marginal product of the worker is greater than the wage. C) No, because the value of marginal product of the worker is greater than the wage. D) No, because the value of marginal product of the worker is less than the wage.
The period of growth from the level of the previous peak to a new peak in Real GDP is called a
A. recession. B. expansion. C. recovery.
Health clubs typically experience an increase in one-year memberships in January, but many new customers cancel their memberships before the end of the year. Which of the following is the best explanation for this behavior?
A) Some health club members suffer minor injuries that prevent them from working out. B) Some people are overly optimistic about their future behavior. C) Some people fail to treat their membership fees as sunk costs. D) Some members receive utility from activities they believe are popular.