What is workfare?
(A) A state-by-state grant program of aid to the elderly.
(B) A program that requires work in exchange for assistance.
(C) Welfare that is limited to preschool-age children.
(D) An early poverty program from the 1950s.
Ans: (B) A program that requires work in exchange for assistance.
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Consumer spending accounts for about 50 percent of GDP.
Answer the following statement true (T) or false (F)
Requiring commercial banks to hold reserves equal to some fraction of their deposit liabilities
A) acts as a constraint on bank lending. B) is an alternative for banks that choose not to use the gold standard. C) is without significance since banks are not required to meet their liabilities on demand by depositors. D) prevents runs on banks by depositors who fear that the banks may not have assets equal to their liabilities. E) really has no effect on the monetary system today.
Which of the following explains the changes in the U.S. adult male labor force participation rate since 1948?
A) Fewer men consider themselves discouraged workers as compared to the past. B) More men are joining the military as compared to the past. C) More men are retiring later in life as compared to the past. D) Younger men are remaining in school longer as compared to the past.
Refer to Scenario 12.3. What will be the price of this new drink in the long run if the industry is a Stackelberg duopoly?
A) $3 B) $9 C) $12 D) $13.50 E) none of the above