Principles of Economics, 7th Edition (MindTap Course List)
Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN: 9781285165875
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 34, Problem 6QCMC
To determine

Automatic stabilizers.

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Which of the following is an example of an automatic stabilizer? When the economy goes into a recession,… a.More people become eligible for unemployment insurance benefits. b.Stock prices decline, particularly for firms in cyclical industries. c.Congress begins hearings about a possible stimulus package. d.The Federal Reserve changes its target for the federal funds rate. Reason why B, C, D are wrong?
Which of the following is NOT an automatic stabilizer? a. income taxes b. unemployment insurance c. Medicaid d. food stamps e. monetary policy
Briefly discuss how time lag could be an argument against policy activism. What is the role of automatic stabilizer in this context?  Explain with examples
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