Some say in-kind transfers are inefficient because:
A. some of them get traded in a secondary market, implying inefficient distribution.
B. everyone always prefers cash to goods and services.
C. it's not what most people want.
D. cash transfers allow utility-maximizing individuals to make the best decisions about items they need.
Answer: D
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We consider the preferences of the consumer because
A) we want to understand the consumer's reaction to changing circumstances. B) we want to determine the best marketing strategy. C) the government wants to make the best consumption and leisure choice. D) the firm needs to determine what to produce.
If the demand for the finished product increases, the:
a. demand for the resources will increase. b. demand for the resources will decrease. c. marginal factor cost will increase. d. marginal factor cost will decrease. e. MP will increase.
Which of the following countries did not experience hyperinflation in the past 20 years?
a. South Korea b. Nicaragua c. Ukraine d. Bolivia e. Argentina
Which of the following is a major reason for offshoring?
a. The gradual reduction in information and communication technologies. b. The fragmentation of production processes. c. The gradual decline in worldwide competition. d. All of the above are major reasons for offshoring.