Most people on welfare
a. are not U.S. citizens
b. are poorly educated and have few job skills
c. do not qualify for food stamps, child care, or Medicaid
d. have jobs
e. are below the age of 16
B
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Suppose an employer has monitoring devices established so that the probability of an employee being caught while shirking is 0.2. If the gain to the employee from shirking is $1,000, how large a bond will deter shirking?
What will be an ideal response?
One important unintended consequence of the Smoot-Hawley Tariff Act was to:
a. lessen the severity of the Great Depression by increasing exports. b. provide the federal government with an effective tool for exercising monetary policy. c. increase the efficiency of domestic automobile production. d. increase the severity of the Great Depression by causing other countries to retaliate, and thus leading to a decline in exports. e. increase the U.S. government budget deficit by $15 million.
Which of the following contributed to the increase in the national debt during the 1990s?
A. A decrease in military expenditures. B. The bailout of failed savings and loan associations. C. A decrease in discretionary spending. D. A period of inflation.
If the percentage change in the price of a good is equal to the percentage change in the quantity demanded of that good, then the demand for that good is:
A. perfectly elastic. B. inelastic. C. elastic. D. unit elastic.