A cash payment made by the government to people who do not supply goods, services or labor in exchange for the payment is a(n)
A. "in kind" payment.
B. budget deficit.
C. dividend payment.
D. transfer payment.
Answer: D
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Since a monopoly can set any price it wants, it always makes a profit?
Indicate whether the statement is true or false
Economies of scale imply: (i) a continuously falling AC curve; (ii) a larger output is more efficient than a smaller output
a. i and ii b. i but not ii c. ii but not i d. neither i nor ii
The optimal combination of goods for a consumer to purchase is shown by
a. any intersection of the indifference curve and the budget line. b. the point where the budget line touches the vertical axis. c. a point of tangency between the budget line and the indifference curve. d. the point at which the indifference curve parallels the horizontal axis. e. the intersection of two indifference curves.
In 2010, which of the following was true regarding the extremely large deficits that the U.S. recently encountered?
a. Most politicians and economists argued that the deficit had to be reduced. b. Most politicians argued that the deficit had to be reduced but economists cautioned against this course of action. c. Most economists argued that the deficit had to be reduced but politicians cautioned against this course of action. d. Both politicians and economist cautioned against deficit reduction.