When an economy dips into recession, automatic stabilizers will tend to
a. enlarge the budget deficit (or reduce the surplus).
b. reduce the budget deficit (or increase the surplus).
c. ensure that the budget remains in balance.
d. expand the supply of money and, thereby, stimulate aggregate demand.
A
Economics
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Refer to the figure above. What is the equilibrium quantity of labor hired by the firm when the wage rate is $6 per hour?
A) 10 hours B) 30 hours C) 60 hours D) 90 hours
Economics
The Smithsonian Agreement of 1971 was hailed by President Nixon as a fundamental reorganization of the international monetary system. In fact, what it accomplished was
A) the revaluation of the dollar. B) the devaluation of the dollar. C) an increase of the gold content of the dollar. D) the elimination of gold backing for the dollar.
Economics