If the Congress passes legislation to increase government spending to counter the effects of a recession, then this would be an example of a(n):
A. expansionary fiscal policy.
B. supply-side fiscal policy.
C. nondiscretionary fiscal policy.
D. contractionary fiscal policy.
Answer: A
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Economic growth can be depicted as
A) an outward shift on the production possibilities curve. B) a movement up on the production possibilities curve. C) a movement down on the production possibilities curve. D) an inward shift on the production possibilities curve.
Refer to the table above. The trade balance of the country during that particular year was ________
A) $4,000 B) -$104,000 C) -$6,000 D) $50,000
Arlo has just completed a study that shows a large number of workers are not doing the jobs that best use their talents. Which point on the production possibilities curve represents this fact?
a. A
b. B
c. C
d. D
All of the following are ways that the government can correct for positive externalities EXCEPT
A. producing the good itself. B. by assessing an effluent fee. C. by regulation. D. by subsidizing the consumption of the good.