Which of the following describes a discretionary fiscal policy action/program?
A) the progressive income tax system
B) The government increases funding for the Dislocated Worker Program, a federal initiative that provides retraining and career counseling.
C) the unemployment compensation program
D) the system of welfare programs
Ans: B) The government increases funding for the Dislocated Worker Program, a federal initiative that provides retraining and career counseling.
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When the average product is at its maximum,
A) the marginal product is increasing as output increases. B) the marginal product is negative. C) it is equal to the marginal product. D) total product is also at its maximum. E) total product is at its minimum.
Which of the following is not considered a criticism of globalization?
a. International corporations serve only the interests of the corporations. b. Globalization promotes "free" but not "fair" trade. c. Globalization encourages harmful labor practices. d. Globalization promotes only trade based on comparative, and not absolute advantage. e. Globalization occurs at the cost of environmental quality.
Municipal bonds are issued by:
A. the U.S. Treasury, but the proceeds can only be used by cities. B. cities only. C. states and cities, but their interest is taxable only at the federal level. D. states and cities and their interest is exempt from U.S. government taxation.
If the MPC is 0.5, the tax multiplier is
A. -2.5. B. -2. C. -1.67. D. -1.