The lag between the time that the need for fiscal action is recognized and the time action is actually taken is referred to as the:
A. Crowding-out lag
B. Recognition lag
C. Operational lag
D. Administrative lag
D. Administrative lag
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Countries that have greater employment protection laws than other countries generally have ________ unemployment rates, with spells of unemployment tending to ________
A) lower; last longer B) lower; be shorter C) higher; last longer D) higher; be shorter
Which of the following would increase the trade deficit?
A. A tax on imports B. Foreign countries subsidizing their exports C. The U.S. government reducing the budget deficit D. An increasing preference of American consumers for domestic products
The average propensity to save (APS) is
A. the percentage of real disposable income saved. B. the percentage of additional real disposable income that will go toward real saving. C. the rate at which real savings changes over time. D. the difference between the amounts of real disposable income consumed and saved.
A theory of distributional justice that concludes that the social contract emerging from the original position would call for an income distribution that would maximize the well-being of the worst-off member of society is known as
A. Rawlsian justice. B. relative justice. C. utilitarian justice. D. maxi-min justice.