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Author Question: The federal budget deficit acts as an automatic stabilizer because A) Medicaid payments increase ... (Read 37 times)

HCHenry

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on: Jun 29, 2018
The federal budget deficit acts as an automatic stabilizer because
 
  A) Medicaid payments increase during expansionary periods.
  B) unemployment insurance payments decrease during a recession.
  C) food stamp payments increase during expansionary periods.
  D) government tax revenues decrease during a recession.

Question 2

The price elasticity of demand for a good is 0.2 . A 10 percent rise in the price will _______ the total revenue from sales of the good.
 
  A. decrease
  B. increase
  C. decrease the quantity sold with no change in
  D. not change


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jennafosdick

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

B The total revenue test on page 121 shows that a rise in the price increases the total revenue if demand is inelastic.


HCHenry

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

kusterl

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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