The government program that provides aid to families in need is
A) TANF.
B) Social Security program.
C) Supplemental Security Income program.
D) Earned Income Tax Credit.
A
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In the classical model, an increase in aggregate demand will cause
A) an increase in actual output, or Gross Domestic Product (GDP). B) a decrease in actual output, or Gross Domestic Product (GDP). C) a decrease in price level. D) an increase in price level.
The formula for the multiplier can be written as change in
A. Y/change in I. B. I/change in Y. C. Y/change in C. D. Y/change in GDP.
Monopolies are sometimes more technologically efficient than perfectly competitive markets
a. True. b. False.
New oak tables are normal goods. What would happen to the equilibrium price and quantity in the market for oak tables if the price of maple tables rises, the price of oak wood rises, more buyers enter the market for oak tables, and the price of the glue used in the production of the new oak tables increased?
a. Price will fall, and the effect on quantity is ambiguous. b. Price will rise, and the effect on quantity is ambiguous. c. Quantity will fall, and the effect on price is ambiguous. d. Quantity will rise, and the effect on price is ambiguous.