What are the two components of federal spending?
What will be an ideal response?
government purchases and transfer payments.
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Relative to a world in which some people are motivated by nonmaterial incentives, if all people were motivated solely by financial incentives, then:
A. both business transactions and personal interactions would be different. B. transactions in the business world would be the same, but personal interactions would not. C. there would be no commitment problems. D. economic efficiency would be achieved more often.
What is the name of the 1994 U.S. Housing and Urban Development program which randomly assigned families who applied into three groups and gave families the chance to leave their old neighborhoods?
A) the Neighborhood Gentrification Program B) Choose It or Lose It C) the Housing Choice Voucher Program D) Moving to Opportunity
A statement describing how the world is
a. is a normative statement. b. is a positive statement. c. would only be made by an economist speaking as a policy adviser. d. would only be made by an economist employed by the government.
Which of the following is true of minimum-wage laws?
a. They affect skilled workers' wages. b. They create above-equilibrium wages for some unskilled workers. c. They create a shortage of unskilled labor. d. They negatively affect the employment of skilled workers.