In an attempt to reduce the poverty rate, there has recently been a movement away from income maintenance programs to
A. encouraging people to get jobs.
B. Supplemental Security Income programs.
C. reducing the age a person can retire at.
D. incorporating the Lorenz policy in decisions.
Answer: A
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The table above shows techniques that can be used to produce 100 shirts. If the price of an hour of labor is $10 and the price of a unit of capital is $12, then the economically efficient technique is
A) W. B) X. C) Y. D) Z.
Under a flexible exchange rate system, a decrease in the value of a domestic currency in terms of foreign currencies is referred to as
A) an appreciation. B) a depreciation. C) a devaluation. D) a revaluation.
Which of the following best characterizes the circular flow of income?
a. Households buy goods and services from businesses, and businesses sell goods and services to households. b. The government purchases resources from businesses and households and then sells goods and services to businesses and households. c. Businesses buy resources from the government, and households buy goods and services from businesses. d. Businesses buy resources from households, and households use their income to buy goods and services from businesses.
When the production possibilities curve is bowed out, resources are...
What will be an ideal response?