Examples of transfers-in-kind include
A) tax rebates on both the federal and state levels.
B) taxes on alcohol and tobacco.
C) food stamps and public housing.
D) political advertising.
C
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Explain the business cycle by describing the phases and turning points
What will be an ideal response?
The decline in the percentage of the federal government's budget devoted to national defense is evidence of the lack of new demand for U.S. military activity
a. True b. False
If a firm decreases production, then its:
A. variable costs rise. B. fixed costs stay the same. C. total costs increase. D. All of these are true.
Suppose that a competitive market is initially in equilibrium. Then demand increases. If some resources used in production are not available in sufficient quantities for entering firms,
a. the long-run market supply curve will be upward sloping. b. the long-run market supply curve will be perfectly elastic. c. in the long run firms will suffer economic losses, leading them to exit the industry. d. the number of firms will decrease, and the market will become a monopoly.