The Temporary Assistance for Needy Families (TANF) program _____.
(A) Provides benefits to a family for ten years.
(B) Can only provide jobs for individuals in an enterprise zone.
(C) Only provides cash assistance to poor families.
(D) Provides work in exchange for temporary assistance.
Ans: (D) Provides work in exchange for temporary assistance.
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Suppose the firm's marginal cost of producing a can increases by $1 per can. Then, based on the figure above, the firm would
A) produce zero cans. B) decrease the amount of cans it produces but not to zero cans. C) not change the amount of cans it produces. D) increase the amount of cans it produces. E) More information is needed to determine what action the firm will take.
The labor force participation rate is
a. the portion of the working-age population that is actively in the labor market b. the portion of the labor force that is employed c. the portion of the working-age population that is working d. the portion of the working-age population that would work if jobs were available e. none of the above
Which of the following is an important assumption about the labor market that is shared by both the original Keynesian model and the Friedman "Fooling Model?"
A) The supply of labor depends on expected real wages. B) The demand for labor is a function of nominal wages. C) Workers can be "off" their labor supply function in the short-run equilibrium. D) Firms can be "off" their labor demand function in the short-run equilibrium.
If one nation can produce greater quantities of a good than another nation, it has a(n) a. comparative advantage in producing that good
b. absolute advantage in producing that good. c. absolute advantage, but a comparative disadvantage in producing that good. d. comparative advantage, but an absolute disadvantage in producing that good.