The principal cause of the decline in the AFDC caseload between 1993 and 1997 was state-initiated reforms
Indicate whether the statement is true or false
F
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According to proponents of an environmentally-adjusted measure of a nation’s macroeconomic performance
a. GDP fails to properly capture the effects of environmental pollution b. GDP appropriately accounts for natural resource depletion c. the international community does not support environmental accounting d. the guidelines outlined in the SEEA of 2003 are meaningless
Pursuing comparative advantage means
A) adding up the plusses and minuses after a transaction. B) doing it to the other person first. C) making equal, fair exchanges for equally valued goods or services. D) sacrificing something less valuable for the sake of something more valuable. E) seeking relative status rather than absolute welfare.
Given that Sandy can produce 10 economics reports or make 2 sales calls and Tim can produce 2 economics reports or make 1 sales call, we can conclude that
A) Sandy should specialize in economics reports, and Tim should specialize in sales calls. B) Sandy should produce both economics reports and sales calls since she cannot possibly gain from trade with Tim. C) Tim should specialize in producing economics reports, and Sandy should specialize in producing sales calls. D) Tim should produce both economics reports and sales calls.
Vertical integration
A) is always driven by profitability concerns. B) results in lower transaction costs. C) may be undertaken to avoid government regulations. D) hampers timely delivery of inputs into the production process.