Which of the following is not an example of a transfer payment?
A. social security.
B. unemployment benefits.
C. workman's compensation.
D. sales tax.
Answer: D
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A firm experiences ________ when its ________ downward as output increases
A) diseconomies of scale; average total cost curve slopes B) economies of scale; long-run average cost curve slopes C) diminishing marginal returns; long-run average cost curve slopes D) diminishing marginal returns; average total cost curve shifts
If the economy is already at its potential output, then the spending multiplier is: a. zero in the long run
b. infinite in the long run. c. equal to 1 in the long run. d. zero in the short run. e. equal to 1 in the short run.
We have had a downward trend in the unemployment rate since the 1980's until the increase occurring in
A. 1991. B. 2001. C. 2007. D. 2009.
If a country's trade deficit increases, then:
A. it must be buying more assets from foreigners. B. its consumption must be falling relative to its production. C. it must be selling fewer assets to foreigners. D. its consumption must be rising relative to its production.