Policymakers following a "lean against the wind" policy would
a. increase government expenditures when output is low and decrease them when output is high.
b. increase government expenditures when output is low and do nothing when output is high.
c. decrease government expenditures when output is low and increase them when output is high.
d. decrease government expenditures when output is high and do nothing when output is low.
a
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US trade deficit arises from trade in manufactured goods with countries where US has ___ trade agreement in place
A. unregulated B. unratified C. few D. no
A fundamental axiom of rational choice theory is
A. consumers should be risk-neutral. B. consumers should disregard recent performance data. C. choices should be independent of irrelevant alternatives. D. choices should be independent of relevant alternatives.
A situation in which output decreases while prices increase is often referred to as:
A. inflation. B. negative economic growth. C. a recession. D. stagflation.
Aggregate supply is _____________.
Fill in the blank(s) with the appropriate word(s).