Discretionary fiscal policy is defined as fiscal policy
A) left to the discretion of military authorities.
B) initiated by an act of Congress.
C) initiated by a Presidential proclamation.
D) triggered by the state of the economy.
E) with multiplier effects.
B
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Industry concentration measures the extent to which
A) products are differentiated by the firms in the industry. B) the market is dominated by a small number of firms. C) the industry executives concentrate on their product. D) consumers are geographically concentrated.
During the recession phase of the business cycle
A) unemployment is usually falling. B) production is usually rising. C) interest rates are usually falling. D) income is usually rising.
The labor force of Rhodia is 50 million, of which 25 million are employed. This implies that the unemployment rate in this country is _____
a. 50% b. 10% c. 20% d. 40%
Which of the following is not a short-run effect of rent control on the housing market?
a. reduced rents b. a large shortage c. a small increase in quantity demanded d. a small decrease in quantity supplied