An example of an in-kind transfer is
A) national defense.
B) Social Security.
C) low-cost public housing.
D) unemployment benefits.
C
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A group of firms that collude to limit competition is called a(n):
a. conglomerate. b. oligopoly. c. cartel. d. kinked demand. e. market concentration.
If you observed that the both the wage rate and employment increased, which of the following would be a possible explanation?
a. A decrease in labor demand b. An increase in labor demand that outpaced an increase in labor supply c. A decrease in labor demand coupled with an increase in labor supply d. A decrease in labor supply e. An increase in labor supply that outpaced an increase in labor demand
When resources are NOT allocated efficiently, we have ________________.
A. Answered the basic economic questions B. A market failure C. A government failure D. Market equity
As prices change, the elasticity of supply describes the movement
A) of a shift in the supply curve. B) of the equilibrium price. C) along the supply curve. D) from a necessity to a luxury good.