Which of these economic measures does NOT fall under the category of automatic stabilizers?

Automatic stabilizers are economic policies and programs that automatically adjust without additional government intervention in response to economic changes, helping to stabilize the economy. Key examples include welfare programs and unemployment benefits, both of which increase spending during economic downturns and decrease during booms, thus automatically countering fluctuations in economic activity.

Interest rate adjustments, on the other hand, do not qualify as automatic stabilizers. They are typically enacted through policy decisions made by central banks and require active intervention rather than automatically responding to changes in the economy. For instance, when a recession occurs, central banks may decide to lower interest rates; this process involves analysis and a deliberate decision rather than an automatic response. In contrast, welfare programs, corporate tax rates, and unemployment benefits are designed to respond automatically to economic conditions, directly influencing consumer spending during periods of economic fluctuation.