If Congress failed to keep the deficit below the ceiling, then the Gramm-Rudman-Hollings Act required
A. Automatic stabilizers.
B. Automatic spending cuts.
C. Automatic tax increases.
D. A balanced budget.
Answer: B
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The principal is distinct from the agent in the principal-agent model because
a. the principal offers the contract to the agent. b. the principal is fully informed. c. both a and b. d. neither a nor b.
When a tax is placed on buyers:
A. the resulting price paid by consumers is the same as if the tax were placed on sellers. B. the equilibrium quantity will unequivocally decrease. C. the resulting price received by sellers is the same as if the tax were placed on sellers. D. All of these are true.
Productivity in the services industry may be underestimated because measurements of productivity do not take into account the quality of the service provided
a. True b. False Indicate whether the statement is true or false
Direct controls have a clear advantage when a total ban is necessary.
Answer the following statement true (T) or false (F)