Changes in taxes, transfer payments, or government expenditures that naturally occur with the business cycle is known as
A) expansionary fiscal policy.
B) contractionary fiscal policy.
C) discretionary fiscal policy.
D) automatic stabilizers.
D
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The following data give the dates of successive turning points in U.S. economic activity and the corresponding levels of real GDP at the time.Turning PointDateReal GDP(1996 $ billions) (A)July 19531992.2(B)May 19541941.0(C)Apr. 19572182.7(D)Apr. 19582117.4(E)Apr. 19602391.0The economy experienced a recession that lasted from:
A. July 1953 to April 1957. B. May 1954 to April 1958. C. May 1954 to April 1957. D. July 1953 to May 1954.
The profit-maximizing decision for the monopoly is:
A. to choose the quantity where marginal cost equals marginal revenue. B. the same as that of the perfectly competitive firm. C. to choose price according to demand. D. All of these statements are true.
France uses civil law
a. True b. False
Economies of scale imply: (i) a continuously falling AC curve or (ii) a larger output is more efficient than a smaller output.
A. i and ii B. i but not ii C. ii but not i D. neither i nor ii