Transfer payments are government grants, subsidies, or gifts to individuals or firms.
What will be an ideal response?
Examples of transfer payments include unemployment insurance and Social Security payments, payments of interest to holders of government bonds, and subsidies to, for example, energy or agricultural corporations.
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In the figure above, if the price is $8 a unit, is there a shortage or surplus and what is the amount of any shortage or surplus?
What will be an ideal response?
Centrally planned economies do not use the price system for anything.
Answer the following statement true (T) or false (F)
An increase in the demand for union labor ________ , so there is no need to restrict labor supply or to ration jobs among union members
a. has no impact on wage and employment b. leads to higher employment and lower wage c. leads to higher wage and employment d. leads to lower wage and employment
What is the controversy surrounding property taxes as a source for school funding?
What will be an ideal response?