Transfer payments
a. are payments that flow from government to households.
b. are not made in exchange for currently produced goods or services.
c. alter household income, but they do not reflect the economy's production.
d. All of the above are correct.
d
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In an English auction
A) the price decreases until someone bids. B) the price increases until nobody else will raise the bid. C) bidders put their bids in a sealed envelope. D) the winning bidder pays the amount bid by the person with the second highest bid.
Earnings differentials cannot be explained at all by differences in productivity
a. True b. False Indicate whether the statement is true or false
Which of the following will not contribute to increasing the stock of physical or human capital of a nation?
a. an increase in savings b. a reduction in taxes on capital gains and stock dividends c. a lack of enforcement of private property rights d. the subsidization of higher education
Usury laws that set maximum interest rates
a. are designed to protect the consumer. b. interfere with the market allocation process. c. have an effect only if the market rate is higher than the legal maximum. d. All of the above are correct.