Which of the following correctly describes how an automatic stabilizer would function?

a. During an economic expansion, incomes rise, and thus our progressive income tax claims a larger portion of income, slowing growth in disposable income.
b. During an economic expansion, net taxes decline, since income grows faster than taxes, and because there is more income being made to support transfer payments to unemployed and disabled people.
c. During a recession, progressive income tax claims a larger portion of income than during periods of economic growth, and government spending declines in order to balance the budget.
d. During a recession, an increase in the flow of unemployment insurance taxes from the income stream into the unemployment insurance fund, reduces consumption and aggregate demand.

a

Economics

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When an individual is unable to alter or undo a past decision he/she incurs an opportunity cost

Indicate whether the statement is true or false

Economics

Which of the following countries receives the largest share of U.S. exports?

a. Mexico b. Germany c. Japan d. Canada e. United Kingdom

Economics