Food stamps are government-issued "money" that can be used
a. by low-income people to buy food in supermarkets and restaurants
b. to exchange for real money to be used for purchases of food
c. by low-income people at most food stores to buy specific food items
d. by foreign tourists to buy imported foods
e. by low-income people to buy only bread, milk, and cheese from government outlets
C
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The short run aggregate production function is subject to ________ if capital stock is increased, holding the total efficiency units of labor as constant
A) increasing returns to scale B) constant returns to scale C) decreasing returns to scale D) the Law of Diminishing Marginal Product
Which of the following statements is true about the income elasticity of demand?
A) The income elasticity of demand for normal goods is always zero. B) The income elasticity of demand for inferior goods is always zero. C) The income elasticity of demand for normal goods is always positive. D) The income elasticity of demand for inferior goods is always positive.
Technological advancements have led to lower prices and an increase in the sale of color laser printers. How does this affect the market for laser printer ink cartridges?
A) The demand curve for laser printer ink cartridges shifts to the left. B) The quantity of laser printer ink cartridges demanded increases. C) The demand curve for laser printer ink cartridges shifts to the right. D) The quantity of laser printer ink cartridges demanded decreases.
Unlike private placements, publicly-sold securities lack
A) any kind of statement of the financial condition of the borrower. B) a secondary market. C) a definite maturity date. D) restrictive covenants.