TANF sets a lifetime cap for benefits at 10 years.
Answer the following statement true (T) or false (F)
False
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Which of the following is an example of incomplete information?
a. A seller losing out on profits because the market price rises above the pre-contracted price. b. An insurer refuses to bear the complete cost of a treatment. c. An insured car driver driving carelessly on the highway. d. A new household appliance starts malfunctioning after two weeks.
When the Fed increases the money supply, the interest rate
a. rises b. falls c. remains unchanged d. rises during recessions only, otherwise remains unchanged e. falls during recessions only, otherwise remains unchanged
Figure 9-5 shows cost and demand curves facing a typical firm in a constant-cost, perfectly competitive industry. Refer to Figure 9-5. If the firm’s fixed cost increases by $1,000 due to a new environmental 68. regulation, what happens in the diagram above?
a. Only the average total cost curve shifts upward; the marginal cost and average variable cost curves are not affected. b. All the cost curves shift upward. C. Only the average variable cost and average total cost curves shift upward; marginal cost is not affected. d. None of the curves shift; only the fixed cost curve, which is not shown here, is affected.
Refer to the information provided in Figure 12.4 below to answer the question(s) that follow.
Figure 12.4There are two sectors in the economy, X and Y, and both are in long-run, zero-profit equilibrium at the intersections of S0 and D0.Refer to Figure 12.4. Assume consumer preference changes toward X and away from Y. Ceteris paribus, the likely change in capital flow in sector Y will cause the industry's short-run ________ curve to shift to the ________.
A. demand; right B. supply; left C. supply; right D. demand; left