Automatic stabilizers include
A) changes in induced taxes and changes in needs-tested spending.
B) increases or decreases of tax rates and changes in needs-tested spending.
C) changes in induced taxes and changes in discretionary spending.
D) changes in discretionary spending and changes in needs-tested spending.
E) changes in the federal funds interest rate brought about by Fed policy.
A
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Gross revenue minus explicit costs equals
A) accounting profit. B) economic profit. C) opportunity cost. D) implicit cost.
In order to maximize profit, a firm that produces its output in two plants will allocate total output between the two plants so that
A. marginal cost for the firm is equal to the sum of the plants' marginal revenue. B. marginal cost is equal for the two plants. C. marginal revenue is equal for the two plants. D. both a and b E. all of the above