Advocates of active stabilization policies, in defense of their views, argue that
a. stabilization is less necessary than is commonly advocated by monetarists.
b. discretionary policy in not necessary because automatic stabilizers are sufficient.
c. perfect stabilization is not possible, but moderate improvements in economic performance are possible, such as the response to the events of September 11, 2001.
d. All of the above are correct.
c
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A second-price auction
a. is also called a Vickrey auction b. is conducted by bidders submitting a single sealed bid c. is where the highest bidder wins and pays the amount of the next highest bid d. all of the above
Frictional unemployment is joblessness
a. related to changes in weather and similar factors b. arising from a mismatch between available jobs and workers' skills c. resulting from macroeconomic fluctuations d. that is short-term and is experienced by people who are between jobs e. that is caused by structural changes in the economy