Which of the following is NOT an example of a transfer payment?
A. the salaries received by social workers employed by the federal government
B. food stamps
C. unemployment compensation
D. social security payments
A. the salaries received by social workers employed by the federal government
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Can nominal GDP increase even when real GDP decreases?
A) No, it is not possible. B) Yes, but only if the price level decreases. C) Yes, but only if the price level increases. D) Yes, but only if the price level remains unchanged.
If a country begins to import more of a commodity, one can normally expect the price of the commodity to
a. remain unchanged in that nation. b. rise and then fall below where it was originally. c. rise in that nation. d. drop in that nation.
For most industries, average costs decrease indefinitely as output expands
a. True b. False Indicate whether the statement is true or false
In order to "defend" its overvalued currency, Argentina in 2002 had to reduce its
a. interest rates. b. tax levels. c. holdings of foreign reserves. d. balance of payments surpluses.