The deliberate change in taxes, transfer payments, or government expenditures to achieve macroeconomic policy objectives is known as
A) expansionary fiscal policy.
B) contractionary fiscal policy.
C) discretionary fiscal policy.
D) automatic stabilizers.
C
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The best explanation for the rapid rise in skilled wages relative to unskilled wages in antebellum U.S. is:
a. The demand for unskilled labor fell while the demand for skilled labor increased. b. The supply for unskilled labor increased and the supply for skilled labor remained the same. c. While both the supply and demand for skilled and unskilled labor grew during the period, the supply of unskilled labor grew relative to the supply of skilled labor. d. The supply and demand for skilled labor increased while both decreased for unskilled labor.
Which of the following is a market transaction?
A. A stock increases in value over the 30 years that it is owned. B. A radio station changes its programming from classical to rock. C. Weather destroys a farmer's crops, leaving the farmer unable to buy groceries. D. A college student purchases a laptop computer.