Which of the following banks is similar to a U.S. investment bank?
A) City banks
B) Grossbanken
C) Merchant banks
D) Cooperative banks
C
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Which of the following is most likely to be sold in an oligopoly market?
A) pizza B) cell phone service C) electricity D) cotton
Which of the following statements is not true with regard to automatic stabilizers? a. The most important automatic stabilizer is the tax system
b. They act as shock absorbers to the economy. c. They require legislative action. d. Automatic stabilizers like government transfer payments change as business cycles conditions change.
Which of the following observations concerning the Phillips curve is not true?
a. They are normally upward-sloping. b. They are more commonly constructed for price inflation. c. They depict the inverse relation between wage inflation and unemployment. d. They depict the rate of unemployment on the horizontal axis.
Why might policymakers attempts to stabilize the economy do more harm than good?