Which of the following are not valid arguments against the effectiveness of the fiscal stimulus bill?
a. Employment continued to fall into early 2010.
b. Without stimulus recessions come to an end naturally.
c. State and local government spending increased.
d. Monetary policy played a large role in stimulating the economy.
c
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In the health insurance market, adverse selection occurs when
A) chronically ill people buy health insurance. B) insured people go to the doctor unnecessarily. C) patients sue their doctor. D) people with health insurance tend to behave more recklessly.
An outward shift of an economy's production possibilities curve is caused by:
a. an increase in capital. b. an increase in labor. c. an advance in technology. d. all of these.
Which of the following is a characteristic of perfect competition?
a. large barriers to entry b. a small number of firms c. firms selling unique goods d. None of the above is correct.
The trade deficits of the 1980s and 1990s reflects American desire for foreign
a. assets and foreign desire for American goods and services. b. goods and services and foreign assets. c. goods and services and foreign desire for American assets. d. assets now and foreign goods and services in the future.