The cumulative probability distribution shows the probability
A) that a random variable is less than or equal to a particular value.
B) of two or more events occurring at once.
C) of all possible events occurring.
D) that a random variable takes on a particular value given that another event has happened.
Answer: A) that a random variable is less than or equal to a particular value.
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Governments have to rely on taxes for financing because
A) they cannot borrow unlimited amounts. B) they usually spend all of the gold reserves. C) gold prices have fallen steadily over the years. D) they are not allowed to sell bonds.
When a market is in disequilibrium, such as when the quantity supplied of a good is greater than the quantity demanded of that good, the price of the good will rise, ceteris paribus
Indicate whether the statement is true or false
Studies show that as real income has been rising in the United States, the per-capita demand for food has been increasing by
A) much less, which means the demand for food is income inelastic. B) much more, which means the demand for food is income elastic. C) much more, which means the demand for food is income inelastic. D) as much, which means the demand for food is unit elastic. E) none of the above
Sort the following into cash transfer programs and in-kind transfers: - social security - SNAP - TANF - Medicare - Medicaid - housing assistance - earned income tax credit (EITC)
A. cash transfers: social security, SNAP, TANF, and Medicare; in-kind transfers: Medicaid, housing assistance, EITC B. cash tranfers: social security, housing assistance, Medicare, and Medicaid; in-kind transfers: EITC, SNAP, TANF C. cash transfers: social security, EITC, TANF; in-kind transfers: Medicare, Medicaid, SNAP, housing assistance D. cash transfers: EITC, TANF, SNAP; in-kind transfers: social security, Medicare, Medicaid, housing assistance