In the United States, people that have few resources that are valued in the market due to either disability, discrimination, or poor health receive short-term public assistance. Specifically, the government gives some households ____________ .
Fill in the blank(s) with the appropriate word(s).
Answer: transfer payments
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Use the following graph of the demand for steak to answer the question below.
Refer to the above diagram and assume that steak is a normal good. Which of the following would shift the demand for steak from D1 to D3?
A. a decrease in consumer incomes B. a decrease in the price of steak C. an increase in consumer incomes D. an increase in the price of steak
If the U.S. government places tariffs on imports from countries that have been accused of deliberately undervaluing their currencies, the price of these imports will ________ and the demand for the undervalued currency will ________
A) rise; fall B) fall; rise C) rise; rise D) fall; fall
The best contract a principal can make with an agent gives the agent all profit after paying the principal a fixed fee
Indicate whether the statement is true or false
The concept of diminishing marginal utility is embedded in the utilitarian rationale for
a. trickle-down effects. b. enhancing market efficiency. c. redistributing income. d. maintaining the status quo income distribution.