Which of the following is an automatic stabilizer?
a. Unemployment insurance
b. Government spending
c. Net taxes
d. The interest rate
e. The minimum wage set by the government
a
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Which of the following is an example of a price floor?
A. Rent controls B. Maximum prices for gasoline C. Usury laws that set maximum interest rates D. The minimum wage
In June 2008, the dollar bought 1.6 Brazilian reals and in October, the dollar bought 2.4 reals. This resulted in a
A) a movement upward along the supply curve for dollars. B) a movement downward along the supply curve for dollars. C) rightward shift in the supply curve for dollars. D) leftward shift in the supply curve for dollars.
Firefighters are highly skilled workers who are typically employed by city governments. If a city reduces the wage rate paid to firefighters to be less than the equilibrium wage rate, what happens to the economic rents earned by the firefighters?
A) Increase B) Decrease C) Remain unchanged D) Public employees like firefighters cannot earn economic rents
Rational voter ignorance occurs because the marginal cost of obtaining information is higher than the marginal benefit from obtaining the information
a. True b. False Indicate whether the statement is true or false