Which of the following is NOT an automatic stabilizer?
A. Food stamps
B. Unemployment insurance benefits
C. Public assistance
D. A supply-side tax cut
D. A supply-side tax cut
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The primary reason why the Fed cannot systematically surprise the public with its monetary policy is
A) the nonneutrality of money. B) the presence of productivity shocks that generate real business cycles independent of the monetary side of the economy. C) the presence of rational expectations among the public. D) the presence of propagation mechanisms within the economy.
Having a Social Security program makes people less inclined to save for their own retirement.
A. True B. False C. Uncertain
Each member of a cartel
a. faces a temptation to cheat on the agreement because lowering its price slightly below the established price will usually increase the firm's sales and profit. b. faces a temptation to cheat on the agreement because raising its price slightly above the established price will usually increase the firm's sales and profit. c. has no temptation to cheat on the agreement because lowering its price slightly below the established price will usually have no impact on the firm's sales and profit. d. has no temptation to cheat on the agreement because raising its price slightly above the established price will usually decrease the firm's sales and profit. e. has no temptation to cheat on the agreement because lowering its price slightly below the established price will usually lower the firm's sales and profit.
Because many good substitutes exist for a competitive firm's product, the demand curve that it faces is
a. unit-elastic. b. perfectly inelastic. c. perfectly elastic. d. inelastic only over a certain region.