Welfare payments are an example of
A. a tax.
B. interest payments.
C. wages.
D. transfer payments.
Answer: D
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Refer to Figure 4-1. If the market price is $3.00, what is Kendra's consumer surplus?
A) $6.50 B) $5.50 C) $2.50 D) $0.50
Actual expenditure is to planned expenditure as ________ is to ________
A) desire; accomplishment B) aggregate demand; aggregate supply C) output; income D) observed; theoretical E) fluctuation; equilibrium
Jerome, the florist, sold 500 bridesmaid's bouquets in June. He estimates his costs that month were ATC = $10, AVC = $6, and MC = $9 . If he sold each bouquet at the constant market price of $9, Jerome
a. made an economic profit of $500 b. made a loss of $500 c. made an economic profit of $1,500 d. made a loss of $1,500 e. should have shut down in June
A bond that pays a yearly interest rate of $100 is for sale. The interest rate was 10 percent and now is 5 percent. The price of the bond has
A. increased from $1000 to $2000. B. decreased from $1000 to $500. C. decreased from $2000 to $1000. D. increased from $500 to $2000.