Refer to Figure 34.4. If an individual does not work, she or he will receive welfare benefits of
A. $12,500.
B. $0.
C. $5,000.
D. $7,500.
Answer: D
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A car dealer that maintains a large number of automobiles on their lot so that they avoid losing a sale to another dealer who has the make and model a given customer wants is engaged in ________
A) production smoothing B) work in process C) stock-out avoidance D) first degree price discrimination
In dollar value, the nominal GDP in the United States is
a. between 5 and 6 billion. b. between 8 and 9 billion. c. between 8 and 10 trillion. d. between 13 and 15 trillion.
In the circular flow model, households provide all of the following resources to firms except
a. labor b. money c. capital d. entrepreneurship e. land
Human capital includes the tools and equipment that human beings work with
a. True b. False Indicate whether the statement is true or false