The establishment of a government redistributive program such as price supports creates _____
a. higher consumer consumption
b. above-normal annual profits
c. a transitional gain
d. independency among recipients
c
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Refer to Figure 4-1. What is the total amount that Kendra is willing to pay for 2 ice cream cones?
A) $1.50 B) $3.00 C) $5.50 D) $6.50
Which of the following does not qualify as an automatic stabilizer in the economy?
a. Lump-sum taxes b. Food stamps c. Welfare payments d. Progressive income taxes e. Unemployment compensation
Given the following information, compute the unemployment rate: 6 million unemployed, 124 million employed.
What will be an ideal response?
Suppose that the supply of gasoline decreases. Price will ________ and consumer surplus will ________.
A. increase; increase B. increase; decrease C. decrease; increase D. decrease; decrease