The argument that money should be given instead of in-kind help to welfare recipients is based on the idea that
A. welfare recipients cannot be trusted to use the in-kind help properly.
B. in-kind help is not wanted.
C. money allows more options and maximizes individual freedom.
D. in-kind assistance does not go through the market system.
C. money allows more options and maximizes individual freedom.
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The foreign exchange rate is the
a. current account b. the law of comparative advantage c. the capital account d. the balance of trade e. the price of one currency in terms of another
Barter requires:
a. that the exchanged goods be portable. b. that the exchanged goods be durable. c. a coincidence of wants. d. that the exchange medium be divisible. e. an effective middleman.
When price does not cover average total cost at any rate of output, the firm should shut down in the short run.
Answer the following statement true (T) or false (F)
Examples of command economies are:
A. the United States and Japan. B. Sweden and Norway. C. Mexico and Brazil. D. Cuba and North Korea.