Government assistance to the poor in the United States
A. has eliminated poverty in the nation.
B. is available to all persons whose income is below the poverty income threshold.
C. is available in most cases only to the poor who are elderly, disabled, or families with children.
D. is always in the form of cash.
C. is available in most cases only to the poor who are elderly, disabled, or families with children.
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One way to place a value on human life is to examine the risks that people voluntarily take and how much they must be paid for taking them. What is the approximate value of a human life according to studies that use this approach?
If the Federal Reserve increases the money supply, then initially people want to
a. sell bonds so the interest rate rises. b. sell bonds so the interest rate falls. c. buy bonds so the interest rate rises. d. buy bonds so the interest rate falls.
The adaptive rationality standard:
A. takes people's goals as given and assumes that people are efficient at pursuing whatever goals they happen to hold at the moment of action. B. assumes that people act in their own self-interest because cooperating with others is irrational. C. argues that people are only able behave rationally if they are aware of how their actions affect others. D. assumes that people's goals are themselves a choice variable and that people's choices about which goals to pursue are made efficiently.
What is the total surplus of a market?
A. the sum of consumer surplus and producer deficit B. the sum of consumer surplus and producer surplus C. the difference between the consumer surplus and producer surplus D. the difference between the highest price that a consumer is willing to pay and the lowest price that a producer is willing to sell