In-kind transfers are
A. The transfer of goods and services rather than cash.
B. A means to allow the poor to make financial transactions between private providers of their own choosing.
C. Programs for job relocation and training of poor people who wish to work in other geographic areas.
D. Paid to individuals in a form that gives them the maximum flexibility to buy what they need.
Answer: A
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Refer to the figure above. What is the absolute value of the arc elasticity of demand when the price decreases from $5 to $2?
A) 0.64 B) 1.25 C) 1.75 D) 2
Patents, tariffs, and quotas are all examples of
A) entry barriers that protect consumers. B) entry barriers that improve a country's standard of living. C) government-imposed barriers. D) economic regulations that increase efficiency.
All of the following are characteristics of a perfectly competitive market, except one. Which is the exception?
a. a large number of sellers b. a standardized product c. no barriers to entry d. sellers can easily exit the market e. an intensive rivalry among the sellers
Some economists believe that high concentration within industries is _________, and we should __________
a. c, d, and e b. terrible; deregulate the industries c. beneficial; encourage it d. inevitable; learn to live with it e. not inevitable; break up monopolies