As long as the amount of food stamps an individual receives is less than they would have spent on food without the food stamps, the food stamps act like a straight income transfer
a. True b. False
a
Economics
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In 1950, the country with the highest per-capita GDP was
A) Switzerland. B) New Zealand. C) the United States. D) Venezuela. E) the Netherlands.
Economics
The intersection of the supply and demand curves indicates:
A) the equilibrium solution in the market. B) a surplus that will cause the price to fall. C) a shortage that will cause the price to rise. D) the quantity demanded exceeds the quantity supplied.
Economics
A demand schedule
A) holds all prices constant. B) is only for a given time period. C) holds quantity constant. D) is for a given variety of goods.
Economics
Refer to the diagram for a purely competitive producer. The firm will produce at a loss at all prices:
A. above P 1 .
B. above P 3 .
C. above P 4 .
D. between P 2 and P 3
Economics