Relative to direct cash payments, in-kind transfers have the advantage of being
a. more politically popular.
b. more efficient.
c. more respectful of the poor.
d. of a higher dollar value than cash payments.
a
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Refer to Figure 17-3. In Panel A, at low wages (segment i)
A) labor suppliers demand more leisure as wages increase. B) the substitution effect outweighs the income effect. C) the income effect outweighs the substitution effect. D) the substitution effect offsets the income effect.
If Ms. Anniston transfers $1,000 from her checking account to her money market account, then
A. M1 falls and M2 remains the same. B. M1 falls and M2 rises. C. both M1 and M2 rise. D. M1 remains the same and M2 rises.
Which of the following is best characterized as a public good?
A) a public library B) a church C) primary education D) police protection
The budget line
A) shifts to the left as income increases. B) has a positive slope. C) is a vertical line. D) shows the combination of goods that can be purchased at fixed prices and with a given income.