If the Congress passes legislation to cut taxes to counter the effects of a severe recession, then this would be an example of a(n):
A. nondiscretionary fiscal policy.
B. political business cycle.
C. contractionary fiscal policy.
D. expansionary fiscal policy.
Answer: D
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Which of the following might be an intermediate good?
A) A box of Kellogg's corn flakes B) An iMac computer C) A U-Haul rental vehicle D) An economics textbook E) Any of the above might be, depending upon who is purchasing it.
FDA rules ban advertising of cigarettes within 1000 feet of a school or playground and banned cigarette vending machines anywhere those under 18 are allowed
Indicate whether the statement is true or false
The definition of a job loser is an individual
A. who quits his job voluntarily. B. who is underemployed. C. who competed for a promotion at his company and did not get it. D. whose employment was terminated involuntarily due to a downturn in the economy.
According to Ronald Coase, allocation of resources in a free-market economy will be efficient as long as
A. property rights are clearly assigned and can be enforced with low contracting costs. B. property rights are assigned only to the rich. C. property rights are clearly assigned but not enforced. D. contracting costs are sufficiently high.