Which of the following is an example of built-in stability? As real GDP decreases,
A. income tax revenues increase and transfer payments decrease.
B. income tax revenues and transfer payments both decrease.
C. income tax revenues and transfer payments both increase.
D. income tax revenues decrease and transfer payments increase.
Answer: D
Economics
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Why does the history of the U.S. matter?
(a) Historical knowledge helps us understand the forces that shaped the current economy. (b) The lessons of the past help us avoid future mistakes. (c) Historical knowledge helps us identify who or what is most likely to fuel future economic prosperity. (d) All of the above.
Economics
In order to calculate GDP from the value of net domestic product at factor cost, we have to add
What will be an ideal response?
Economics