Each of the following is a provision of the 1996 welfare reform law except that
A. lifetime welfare benefits would be limited to five years.
B. each state receives a lump sum to run its own welfare and work programs.
C. any adult found guilty of a felony would be removed from the welfare rolls.
D. future legal immigrants are banned from welfare assistance.
C. any adult found guilty of a felony would be removed from the welfare rolls.
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A commodity that buyers and sellers both have will increase the efficiency of the market
Indicate whether the statement is true or false.
In which of the following market types do all firms sell products so identical that buyers do not care from which firm they buy?
A) perfect competition B) monopolistic competition C) oligopoly D) monopoly E) perfect competition and monopolistic competition
Which statement is FALSE?
A. Wages are not downwardly flexible. B. The rational expectations theorists argue that there is a natural level of real GDP toward which the economy gravitates. C. The rational expectations theorists believe anti-recession policies have no effect, but admit anti-inflationary policies may be wise. D. The rational expectations theorists believe that aggregate supply is the prime economic mover.
When saving leaks out of the circular flow of income and spending,
A. total income necessarily falls. B. it leaks out of the financial system. C. it flows to borrowers. D. it increases the size of the spending flow.