An advantage of automatic stabilizers is that this type of fiscal policy is not subject to:
a. imprecise knowledge of full-employment real GDP.
b. special interest groups.
c. lag time problems.
d. All of these are true.
d
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An appreciation of one's currency means that:
a. the country's exports will become less expensive. b. the country's imports will become more expensive. c. the country's imports will become less expensive. d. it now requires more of this currency in exchange for one unit of another currency. e. it now requires less units of other currencies in exchange for one unit of this currency.
Answer the following statements true (T) or false (F)
1. The former Soviet Union was an example of a traditional economy. 2. The United States had a surplus balance of trade during most of the 1990s. 3. Deciding what to produce and allocating goods and services are functions of all types of economic systems. 4. Socialism combines monopoly, capitalism, private property, and a strong dictatorial central government.