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标题: Reading 26: Fiscal Policy - LOS e ～ Q11-12 [打印本页]

作者: mayanfang1 时间: 2009-1-15 16:42 标题: [2009]Session 6 - Reading 26: Fiscal Policy - LOS e ～ Q11-12

Q11. Which of the following is least likely to be cited as a limitation of discretionary fiscal policy stabilizers?

A) Taxes paid by households increase as incomes rise.

B) It takes time for corporations and individuals to react to fiscal policy changes.

C) Changes in the business cycle are difficult to predict.

Q12. Unemployment compensation is an example of:

A) an automatic monetary policy stabilizer.

B) an automatic fiscal policy stabilizer.

C) a discretionary fiscal policy stabilizer.

作者: mayanfang1 时间: 2009-1-15 16:43

答案和详解如下：

Q11. Which of the following is least likely to be cited as a limitation of discretionary fiscal policy stabilizers?

A) Taxes paid by households increase as incomes rise.

B) It takes time for corporations and individuals to react to fiscal policy changes.

C) Changes in the business cycle are difficult to predict.

Correct answer is A)

Discretionary fiscal policy stabilizers face several limitations. First, economic forecasts might be wrong, which will likely lead to wrong fiscal policy decisions. Second, complications arise in practice that delay the effects of the discretionary stabilizers. Legal changes take time to implement and to have an effect on the economy. All these choices are examples of limitations of discretionary fiscal policy. On the other hand, “induced taxes”, in which taxes paid by households increase as incomes rise, are an example of an automatic fiscal policy stabilizer, not a discretionary fiscal policy stabilizer.

Q12. Unemployment compensation is an example of:

A) an automatic monetary policy stabilizer.

B) an automatic fiscal policy stabilizer.

C) a discretionary fiscal policy stabilizer.

Correct answer is B)

Unemployment compensation automatically rises and falls with the business cycle, therefore it is an example of an automatic fiscal policy stabilizer.

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