A tax on insulin is likely to cause a very large deadweight loss to society

The increase in the amount that the government collects in taxes when the economy expands and the decrease in the amount that the government collects in taxes when the economy goes into a recession are examples of

A) discretionary fiscal policy. B) discretionary monetary policy. C) automatic stabilizers. D) automatic monetary policy.

When production reflects consumer preferences, ________ occurs

A) productive efficiency B) allocative efficiency C) equity D) efficient central planning