In-kind transfers
a. are cash payments given to the poor from the government.
b. are available to citizens of all income levels, but usually only sought by the poor.
c. are non-monetary items given to the poor.
d. include food stamps, but not housing vouchers or medical services.
c
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Consider a used car market in which half the cars are good and half are bad (lemons). A rational buyer in this market should
A) save up and buy a new car. B) offer to pay a price equal to the most she would pay for a good car. C) offer to pay a price equal to the most she would pay for a lemon. D) offer to pay a price somewhere between the price she would pay for a good car and the price she would pay for a lemon.
The rate of return is equal to the
A) sum of the coupon rate and the current yield. B) yield to maturity. C) sum of the current yield and the actual rate of capital gain or loss. D) sum of the current yield and the expected rate of capital gain.
Using the above figure, which of the lines in the above diagram represents a progressive tax?
A) A B) B C) C D) none of them
If a CEO can type faster than her secretary, then
A) the CEO has a comparative advantage in typing. B) the CEO has neither a comparative advantage in typing, nor in management. C) the CEO should still continue performing CEO duties since the CEO has a comparative advantage in management, and the secretary should continue typing. D) the CEO should still continue performing CEO duties as well as typing since he has a comparative advantage in both management, and typing.