Which of the following constitutes a transfer payment?
a. Income taxes
b. Corporate salaries
c. Fiscal spending
d. Dividend payments
e. Welfare benefits
e
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Income and revenue from taxes have a specific relationship during recessions. What is it?
A) incomes fall, tax revenue increases B) incomes rise, tax revenue decreases C) incomes fall, tax revenue decreases D) incomes rise, tax revenue increases
If an import-competing firm is imperfectly competitive, then under free trade an export tariff will ________ domestic market price, ________ producer surplus, ________ consumer surplus, ________ government revenue, and ________ overall domestic
national welfare. A) increase; have no effect on; decrease; increase; decrease B) decrease; decrease; increase; decrease; have no effect on C) increase; have no effect on; increase; decrease; increase D) decrease; increase; decrease; increase; decrease E) have no effect on; have no effect on; decrease; increase; decrease
Which of the following is likely to be more of a problem after the introduction of deposit insurance?
A) moral hazard B) adverse selection C) contagion D) bank runs
In the long run, monopolistic competition
a. results in a monopoly b. ends up with one firm, that is, competition transforms to monopoly c. ends up with many firms in the industry d. has zero barriers to entry e. has no product differentiation