A transfer payment is
a. a payment for moving expenses a worker receives when he or she is transferred by an employer to a new location.
b. a payment that is automatically transferred from your bank account to pay a bill or some other obligation.
c. a form of government spending that is not made in exchange for a currently produced good or service.
d. the benefit that a person receives from an expenditure by government minus the taxes that were collected by government to fund that expenditure.
c
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The infant industry argument suggests that
A) a country requires tariff protection when it has no comparative advantage in the production of any good. B) a country requires protection against unfair trade practices. C) an industry may require temporary tariff protection until the industry matures. D) the industry has no potential and must be protected to survive.
Slope is measured as rise/run
a. True b. False Indicate whether the statement is true or false
Which of the following is a source of information that helps consumers acquire information about the quality of a good or service?
a. brand names b. franchising c. consumer ratings magazines d. all of the above
When demand is elastic, a decrease in price will
A. decrease total revenue. B. not change total revenue. C. reduce quantity demanded. D. increase total revenue.