Stabilization policy describes
A. government programs designed to prevent or shorten recessions and counteract inflation.
B. legislation that redistributes income.
C. policy that removes price controls.
D. policy that follows natural disasters.
Answer: A
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An economy's ________ during a recession
A) labor supply curve shifts to the right B) labor demand curve shifts to the right C) labor supply curve shifts to the left D) labor demand curve shifts to the left
A vast majority of mandatory federal spending is devoted to
A) entitlement programs. B) national defense. C) interest on the national debt. D) foreign aid.
John decides to leave college early and play professional sports. Which of the following economic principles does John use?
i. personal economic policies ii. marginal cost versus marginal benefit analysis iii. normative versus positive economics A) i and ii B) i, ii and iii C) ii only D) i and iii E) ii and iii
Which of the following is least likely to reduce poverty?
A. Redirecting resources within the poor nation away from the military. B. Receiving foreign aid from rich donor countries. C. Raising taxes within the poor nation. D. Receiving aid from private charities or NGOs.