The direct transfer of goods and services rather than cash is known as
A. Welfare income.
B. Poverty support.
C. In-kind transfers.
D. Transfer payments.
Answer: C
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Adding up all transactions in the economy ________ "double counting" and thus produces ________ measure of GDP
A) avoids, a proper B) avoids, an improper C) results in, a proper D) results in, an improper
Why did the money supply fall during the Great Depression?
a. The monetary base fell throughout the Great Depression. b. The amount of currency fell during the Great Depression. c. The ratio of currency/deposits fell during the Great Depression. d. The money multipier rose during the Great Depression. e. None of the above.
Deadweight loss results from a misallocation of resources
a. True b. False Indicate whether the statement is true or false
A free rider is a person who:
a. is harmed by another's actions. b. is subject to a negative externality. c. receives benefits from someone else's action but does not pay for them. d. pays less than the full value for a product. e. won the state lottery.