A welfare payment that is reduced when the recipient earns more income is a(n):
A. unconditional benefit.
B. fair benefit.
C. inducement for the poor to find employment.
D. means-tested benefit.
Answer: D
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The interest rate the Fed charges on loans to depository institutions is known as
A) the federal funds rate. B) the Fed loan rate. C) the discount rate. D) the interbank clearing rate.
The demand curve is a representation of the relationship between the quantity of a product demanded and:
a. Wealth b. Income c. Price d. Supply
The demand for microwaves in a certain country is given by: D = 8,000-30P, where P is the price of a microwave. Supply by domestic microwave producers is: S = 4,000 + 10P. If this economy opens to trade while the world price of a microwave is $50, and the government imposes a tariff of $30 per microwave, then the tariff revenue collected by the government will be ________.
A. $60,000 B. $24,000 C. $4,000 D. $40,000
Assuming there is no foreign trade in the economy, the economy is in equilibrium when
A. G + T = S + I. B. I + G = S + T. C. S + T = C + I. D. IT = S + G.