Which of the following represents a transfer payment?
a. You transfer $1,000 from your bank account to a mutual fund.
b. The government sends your grandfather his Social Security check.
c. You make a payment to get legal documents showing you purchased a previously owned home.
d. Your employer automatically transfers $100 each month from your wages to a non-taxable medical spending account.
b
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In the antebellum period, U.S. cotton production
a. moved inland and westward following the invention of the cotton gin. b. was unable to meet the demand of the growing U.S. textile industry. c. was concentrated on small farms of less than 100 acres. d. faced declining world demand for most of the antebellum period.
The more inelastic the demand for a product, the larger the share of the tax that will be paid by consumers
a. True b. False Indicate whether the statement is true or false
The government includes the value of the services of a stay-at-home parent who provides childcare for his/her daughter as part of the GDP of the country
a. True b. False Indicate whether the statement is true or false
Policies such as rent control and trade barriers persist
a. because economists are about evenly divided as to the merits of those policies. b. because almost all economists agree that those policies have no discernible economic effects. c. because almost all economists agree that those policies are desirable. d. despite the fact that almost all economists agree that those policies are undesirable.