The built-in stabilizers in the economy tend to:
A. Fully offset irregular swings in real GDP
B. Magnify somewhat the irregular swings in real GDP
C. Dampen the irregular swings in real GDP
D. Overcompensate for the irregular swings in real GDP
C. Dampen the irregular swings in real GDP
You might also like to view...
By the legal definition of unemployment, a person who has quit his job to take care of his children full time is
A) unemployed. B) not in the labor force. C) employed. D) in the labor force.
Firms in long-run equilibrium in a perfectly competitive industry will produce at the low points of their average total cost curves because
a. free entry implies that long-run profits will be zero no matter how much each firm produces. b. firms seek maximum profits and to do so they must choose to produce where average costs are minimized. c. firms maximize profits and free entry implies that maximum profits will be zero. d. firms in the industry desire to operate efficiently.
As baby boomers move into their retirement years, the incomes of geriatricians (doctors for the aged) will most likely
a. fall due to a fall in the demand for geriatricians b. rise due to a fall in the price of complementary inputs c. rise due to a rise in the demand for geriatricians d. fall due to a drop in the number of medical providers e. rise due to a rise in the supply of geriatricians
Statistical discrimination using gender and age:
A. is legal in the insurance market, but not the job market. B. is legal in any market, but using race is not. C. is legal in the job market, but not the insurance market. D. is illegal in any market.