All of the following are parts of the business cycle except ?
All of the following are parts of the business cycle except ?
A. boom
B. slump
C. recovery
D. acceleration
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Automatic stabilizers act to ______ government expenditures and _______ government revenue during an expansionary period?
Automatic stabilizers act to ______ government expenditures and _______ government revenue during an expansionary period?A. increase; increase
B. decrease; increase
C. increase; decrease
D. decrease; decreaseFor a price ceiling to be binding constraint on the market the government must set it ?
For a price ceiling to be binding constraint on the market the government must set it ?A. above the equilibrium price
B. below the equilibrium price
C. precisely at the equilibrium price
D. at any price because all price ceilings are binding constraintsIf, in the long run, people adjust their price expectations so that all prices and incomes move proportionately to an increase in the price level then the long-run Phillips curve ?
If, in the long run, people adjust their price expectations so that all prices and incomes move proportionately to an increase in the price level then the long-run Phillips curve ?A. is vertical
B. is negatively sloped
C. has a slope that is determined by how fast people adjust their price expectations
D. is positively slopedIf injections are less than withdrawals at the full-employment level of national income, there is ?
If injections are less than withdrawals at the full-employment level of national income, there is ?A. an inflationary gap
B. hysteresis
C. A deflationary gap
D. hyperinflationEstimated value that is added to a product or material to each stage, of its manufacture or distribution, is known as ?
Estimated value that is added to a product or material to each stage, of its manufacture or distribution, is known as ?A. Value addition
B. Excise
C. Value added
D. Tax on stageWhat is referred by cost push inflation ?
What is referred by cost push inflation ?A. Decreased production costs drive prices up
B. Decreased production costs drive prices down
C. increased production costs drive prices down
D. increased production costs drive prices up