Medicaid and food stamps are
a. available only to the elderly.
b. forms of in-kind assistance.
c. forms of cash assistance.
d. transfer payments.
b
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Max has allocated $100 toward meats for his barbecue. His budget line and an indifference map are shown in the above figure. Which bundle will Max choose?
A) a B) b C) c D) d
When people expect higher inflation, usually nominal interest rates will:
A. rise. B. fall. C. remain unchanged. D. move erratically.
The balance of payments is the domestic price of a foreign currency.
Answer the following statement true (T) or false (F)
According to Keynesian economists, the key limitation on business production, and therefore on employment, is the
A. demand for output produced by business. B. rate of growth of the money supply. C. price of raw materials. D. level of the wage rate for skilled labor.