During the recession in 2001, President Bush extended the effectiveness of the automatic stabilizers by
A. giving tax credits to companies.
B. increasing transfer payments to needy.
C. permitting unemployed to receive for an additional 13 week period.
D. increasing the excise expensive automobiles.
C. permitting unemployed to receive for an additional 13 week period.
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Which of the following is the best example of a monopolistically competitive market?
A) The wheat market. B) The electricity market. C) The restaurant market. D) The market for automobiles.
The long-run opportunity cost of government spending crowding out private investment: a. equals about 10 percent of GDP
b. lowers interest rates and results in lower interest income for U.S. resource owners. c. would be greater if the government's expenditures were invested in building better highways and a more educated workforce. d. results from the corresponding contractionary gap. e. would be greater if the government's expenditures were devoted to increasing retirement benefits rather than to educating the work force.
An important category of bias in human decision making is:
A. temptation. B. revealed preference. C. ease of the decision-making process. D. All of these are important sources of bias in decision making.
Refer to Table 3.2, which shows some costs and benefits of having your car repaired. What is the marginal cost of the 5th hour spent on repairs?
A. $360
B. $435
C. $510
D. $780