Automatic stabilizers
A) are never altered.
B) often make any downturn in the economy worse.
C) must be determined by the Congress in each budget.
D) work counter-cyclically to moderate the business cycle.
D
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Suppose that Sandy can produce 10 economic reports or make 2 sales calls. Suppose Tim can produce 2 economic reports or make 1 sales call. Which of the following is CORRECT?
A) The opportunity cost for Sandy of producing one economics report is 1/5 of a sales call. B) The opportunity cost for Sandy of producing one sales call is 10 economics reports. C) The opportunity cost for Tim of producing one sales call is 1/2 of an economics report. D) The opportunity cost for Tim of producing one economics report is 2 sales calls.
Which of the following statements about marginal utility is correct?
a. When marginal utility is negative, an increase in the quantity will increase total utility. b. When marginal utility is decreasing, an increase in quantity will decrease total utility. c. When marginal utility is positive, an increase in quantity will decrease total utility. d. When marginal utility is zero, an increase in quantity will leave total utility unchanged. e. When total utility is increasing, marginal utility will be negative.