54. Hamsterville has a progressive income tax and a social insurance program that providesunemployed workers with a basic income while they are searching for jobs.What impact will this progressive tax system have on real GDP?A.Decrease real GDP during the expansion phase; increase real GDP during the recession phaseB.Increase real GDP during every phase of the business cycleC.We cannot tell the impact taxes will have on real GDPD.Decrease real GDP during all phases of the business cycleE.Increase real GDP during the expansion phase; decrease real GDP during the recession phase
55. How do automatic stabilizers affect an economy during inflationary periods?
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56. The government of Hamsterville recently lowered taxes.What kind of policy is this, and what is one reason the government might want to implementsuch a policy?
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EconomicsAP®︎/College MacroeconomicsEconomic indicators and the business cycleUnemployment
Lesson summary: Unemployment
In this lesson summary review and remind yourself of the key terms and calculations used in measuring unemployment, the labor force, the unemployment rate, the labor force participation rate, and the natural rate of unemployment. Topics include cyclical, seasonal, frictional, and structural unemployment.
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