Which assistance program(s) target(s) the health care needs of the poor?
a. TANF
b. food stamps
c. Social Security
d. Supplemental Income
e. Medicaid
E
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Which of the following statements is TRUE about the relationship between a firm's demand curve under perfect competition and monopoly?
A) Under perfect competition, the demand curve is perfectly elastic; under monopoly, the demand curve has elastic, unit-elastic and inelastic portions. B) Under monopoly, the demand curve is perfectly elastic; under perfect competition, the demand curve has elastic, unit-elastic and inelastic portions. C) The demand curves for a monopoly and perfect competition are always inelastic. D) We can define a demand curve under perfect competition but not under monopoly.
In Country Z, every time a poor person earns $100 by working, the person loses $100 in government support. Which term describes the situation faced by this person?
a. Poverty trap b. Budget constraint c. Opportunity cost d. Utility maximization
Why does an efficient distribution of outputs among households occur in perfectly competitive markets?
What will be an ideal response?
Table 10.1 shows the cash flows and discounted cash flows for three mutually exclusive projects available to a company. Assume an interest rate of 5%. Which project has the shortest payback period?
A. Project A
B. Project B
C. Project C
D. It cannot be determined from the information given.