Which of the following is NOT a transfer payment?
A) Medicare
B) Social Security retirement payments
C) Social Security disability payments
D) spending on national defense
Answer: D
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Consider the demand curves for soft drinks shown in the figure above. Suppose the economy is at point a. Which of the following could result in a movement to point d?
A) a decrease in income B) an increase in the relative price of a soft drink C) a decrease in the relative price of a soft drink D) a decrease in the price of bottled water
Robert Lucas reflects the view of many economists when he argues that the most effective way to reduce world poverty is to:
A. take money from those who are very wealthy and give to those who are very poor. B. provide loans to developing countries. C. increase long-run growth. D. eliminate recessions.
______ has to do with how representatives are authorized and held accountable.
A. Descriptive representation B. Formalistic representation C. Symbolic representation D. Substantive representation
Which of the following holds the most U.S. government debt?
A. The Federal Reserve B. U.S. government agencies not including Social Security C. Foreigners and U.S. citizens D. Social Security