Automatic stabilization refers to
A) the policy of lowering tax rates during a recession.
B) the policy of increasing autonomous G during a recession.
C) the effect of income taxes in lowering the multiplier effect of changes in autonomous planned spending.
D) all of the above.
C
Economics
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Winnie's Car Wash is a perfectly competitive firm. The table above shows Winnie's total product schedule. What is the marginal product of labor when the 5th worker is hired?
A) 72.5 car washes B) 75 car washes C) 5 car washes D) 3 car washes
Economics
If an industry's Herfindahl-Hirschman Index is less than 1, the industry is likely to be
A) competitive. B) an oligopoly. C) a monopoly. D) technologically inefficient.
Economics