Payments from government accounts to individuals for programs that do not involve a purchase of goods or services are called:
A. discretionary funds.
B. transfer payments.
C. grants.
D. fiscal policy.
B. transfer payments.
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While legislation enacted in 1998 granted the Bank of Japan new powers and greater autonomy, its critics contend that its independence is
A) limited by the Ministry of Finance's veto power over a portion of its budget. B) too great because it need not pursue a policy of price stability even if that is the popular will of the people. C) too great since the Ministry of Finance no longer has veto power over the bank's budget. D) limited since the Ministry of Finance can dismiss senior bank officials.
Refer to the above figure. Excess quantity demanded will exist when
A) the price is between $0 and $6. B) the price equals $6. C) the price equals $10. D) quantity demanded equals 3.
A rational consumer maximizes utility by allocating time such that the expected net marginal utility of the last hour spent in leisure exceeds the expected net marginal utility of the last hour spent in market work
Indicate whether the statement is true or false
Cheryl graduated from college a month ago and is now without work. She accepted a job that will start next month. Today, Cheryl is
A. employed. B. a discouraged worker. C. in the labor force. D. not in the labor force.