Which of the following is an income transfer?
A. A new highway built by the federal government.
B. A gift of money from a parent to a child.
C. Free medical care made available to the poor by a private physician.
D. Unemployment benefits paid to a factory worker who was laid off.
Answer: D
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If a country has a comparative advantage in producing a product, it may or may not have an absolute advantage in producing that product
Indicate whether the statement is true or false
What does job lock mean?
A. A tendency for workers to remain in their jobs to keep their insurance coverage B. A job where a time clock is used C. A job that provides insurance coverage only after several years of employment D. all of these answer options are correct.
When demand is elastic, an increase in price leads to:
A. a decrease in total expenditures. B. an undetermined change in expenditures. C. an increase in total expenditures. D. no change in total expenditures.
A dominant strategy is one that is best no matter what the other player(s) does (do).
Answer the following statement true (T) or false (F)