If we counted the value of non-cash, or in-kind, benefits given to the poor by the government, the poverty rate would be
A. higher.
B. lower.
C. not affected.
B. lower.
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Which of the following is true? In the above figure, if the market is
A) a monopoly, output will be Q1 and price will be P3. B) a monopoly, output will be Q3 and price will be P3. C) perfect competition, output will be Q2 and price will be P2. D) perfect competition, output will be Q1 and price will be P1. E) perfect competition, output will be Q3 and price will be P3.
Refer to Table 10-6. What is Jay's optimal consumption bundle?
A) 1 burger and 2 cans of Pepsi B) 2 burgers and 3 cans of Pepsi C) 3 burgers and 2 cans of Pepsi D) 3 burgers and 1 can of Pepsi
Conventional budget accounting practices tend to overstate deficits in inflationary periods because they
A. ignore the inflation tax. B. confuse repayment of principal with real interest expenditures. C. double count some expenditures. D. understate real interest rates.
Which statement is true?
A. The United States' economy is larger than Japan's and the United States' population is larger than Japan's. B. The United States' economy is smaller than Japan's and The United States' population is smaller than Japan's. C. The United States' economy is larger than Japan's and The United States' population is smaller than Japan's. D. The United States' economy is smaller than Japan's and The United States' population is larger than Japan's.