The argument that money should be given instead of in-kind help to welfare recipients is based on the idea that
A. welfare recipients cannot be trusted to use the in-kind help properly.
B. in-kind help is not wanted.
C. money allows more options and maximizes individual freedom.
D. in-kind assistance does not go through the market system.
C. money allows more options and maximizes individual freedom.
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Use the following figure to answer the next question.
In the figure, AD2 and AS2 represent the original aggregate supply and demand curves. If Q3 is full-employment output, then AD2 and AS1 best represent a period of ________.
A. hyperinflation B. expansion C. low unemployment D. stagflation
Suppose that sharply lower coffee prices lead to a decrease in the demand for tea. Tea price decreases, and the tea producers experience short-run economic losses. If the tea industry is a price-taker market, after sufficient time is allowed for the market to adjust fully to the decrease in the demand for tea, one would expect the tea industry's output to
a. increase and economic losses to persist. b. decline and economic losses to persist. c. decline and economic losses to disappear. d. increase and economic losses to disappear
The federal funds rate is the interest rate that
a. banks charge one another for loans. b. banks charge the Fed for loans. c. the Fed charges banks for loans. d. the Fed charges Congress for loans.
Suppose a British camera has a price of 200 British pounds. To a United States camera importer, its price rises from $360 to $380. This might happen when the dollar ________________ against the British pound, which means the British pound has a __________ dollar price
A) depreciates; higher B) depreciates; lower C) appreciates; higher D) appreciates; lower