Fiscal policy that occurs naturally without the need for legislation is known as:
A. lag-free automatic fiscal policy.
B. monetary policy.
C. targeted fiscal policy.
D. an automatic stabilizer.
Ans: D. an automatic stabilizer.
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What is the key assumption about a consumer's marginal rate of substitution?
What will be an ideal response?
Which of the following would shift the production possibilities frontier outward?
a. an increase in the size of the labor force b. more efficient use of existing resources and technology c. the government prints more money d. the end of a strike by a labor union e. society's desire to produce more of one of the goods
The percent of disposable income that consumers have to pay for their debt is called:
A. a debtor's mark. B. debt service. C. the cost of debt. D. debt accountability.
Suppose a firm's current total cost of production is $50,000 per week, the wage rate is $1,000 per week and the cost of capital is $2,500. Which of the following gives the general equation for the firm's isocost lines for total cost C?
A. C = 20 - 0.5L B. C = 2,500K - 0.5L C. K = (C/2,500) - (C/1,000) D. K = (C/2,500) - 0.4L