An in-kind transfer payment is:
A. made out of kindness.
B. less costly to provide than a cash payment.
C. a benefit in the form of a good or service.
D. a cash payment.
Answer: C
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In the basic closed-economy ISLM model, the goods market can be described by the
A) consumption function. B) investment function. C) government spending and tax. D) goods market equilibrium condition. E) all of the above.
Which part of the Foreign Corrupt Practice Act (FCPA) prohibits employees and representatives of U.S. firms from bribing foreign officials?
A) Part I B) Part III C) Part II D) Part VI
The income of consumers increases. and the wage rate in the DVD industry increases. As a result
A) the price of DVDs stays the same and the quantity sold can either increase or decrease, depending on whether the change in demand is greater than the change in supply. B) the price of DVDs increases and the quantity sold can either increase, decrease or stay the same depending on whether the change in demand was greater than the change in supply. C) the equilibrium quantity sold increases and price can either increase or decrease, depending on whether the change in demand is greater than the change in supply. D) the equilibrium quantity sold can either increase or decrease and the price can either increase or decrease, depending on whether the change in demand was greater than the change in supply.
Product differentiation is _____ based on real physical differences among products.
A. always B. sometimes C. never