The three components of consumption are durable goods, nondurable goods, and housing construction
Indicate whether the statement is true or false
F
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When the government transfers resources to the poor in the form of a good or service, it is called:
A. an in-kind transfer. B. the Earned Income Tax Credit (EITC). C. Temporary Assistance to Needy Families (TANF). D. a regressive tax.
If a graph shows a negative relationship between two variables which then becomes a positive relationship, this curve would
A) always be an upward-sloping line. B) have a minimum point. C) have a maximum point. D) always be a downward-sloping line.
A supply curve;
(a) Shifts to the right when price increases. (b) Shifts to the right when an input price (e.g. wages) decreases. (c) Never shifts but slopes downwards because firms can sell more products when prices fall. (d) Both (a) and (b) are true.
All of the following are reasons why people hold cash money except:
A. money can be used to buy goods. B. cash earns interest. C. to avoid losses from changes in bond prices. D. emergencies.