Which of the following government programs provides recipients with in-kind benefits?
a. Temporary Assistance to Needy Families (TANF).
b. Social Security.
c. The food stamp program (SNAP).
d. Unemployment compensation.
c
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Answer the following statement(s) true (T) or false (F)
1. Environmental pollution can be characterized as a market failure that distorts the classical market outcome. 2. If we define the relevant market as “environmental quality,” then the market failure is due to the presence of a negative externality. 3. If market is defined as a good or service whose production or consumption generates environmental damage, then the market failure is due to a negative externality. 4. A public good is characterized as possessing either nonrivalry in consumption or nonexcludable benefits. 5. Nonrivalness means that one person’s consumption does not preclude that of another.
The relationship between quantity demanded and price is a(n) ________ relationship.
A. general B. inverse C. dictated D. direct
China's growth rate has ________ that of most other countries, ________
A) topped; but its real GDP per person is still lower than other industrialized countries B) lagged behind; and its real GDP is close to other Asian economies C) lagged behind; but its real GDP per person is higher than other Asian economies D) topped: but its real GDP per person declined in 2008-09 E) equaled; and its real GDP per person declined in 2008-09
In the short run,
A. all of the firm’s input quantities, including plant size, become adjustable. B. firms are not constrained by past decisions. C. firms have relatively little opportunity to change production processes. D. all of the firm’s current commitments come to an end.