Government social benefits paid to individuals are
A. known as transfer payments, and are counted as part government consumption and investment.
B. known as the output of government, and are typically used to fund personal consumption.
C. known as transfer payments, and are typically used to fund personal consumption.
D. known as the output of government, and are counted as part government consumption and investment.
Answer: C
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The Eurozone announced in 2015 that it will follow actions taken by both the UK and US Central Bank authorities and print additional money to inject funds into the financial system. This is called:
(a) Structural debt reduction. (b) Contractionary fiscal policy. (c) Quantitative Easing. (d) Austerity Measures.
When the federal government's budget is in deficit, additional funds are acquired through
A. the sale of Treasury bills, notes, and bonds. B. borrowing from the Federal Reserve System. C. excise taxes on such items as alcohol, tobacco, and firearms. D. government savings accumulated during surplus years.
Nominal GDP is:
A. the sum of all monetary transactions that occur in the economy in a year. B. the sum of all monetary transactions involving final goods and services that occur in the economy in a year. C. the amount of production that occurs when the economy is operating at full employment. D. money GDP adjusted for inflation.
At the socially optimum quantity of production, price equals:
A. average total cost. B. marginal revenue. C. average variable cost. D. marginal cost.