In-kind assistance programs are based on the direct transferring of goods and services to the poor
a. True
b. False
Indicate whether the statement is true or false
True
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A price-taking firm will tend to expand its output as long as price exceeds average variable cost and: a. its marginal revenue is positive
b. its marginal revenue is greater than the market price. c. its marginal revenue is less than the market price. d. its marginal cost is less than the market price.
Trade adjustment assistance in the United States began in 1962. The program
A. was designed to provide assistance to firms or workers who suffer idle facilities, unprofitability, and unemployment because of sharp increases in imports. B. provided little assistance to victims of free trade before the 1970s. C. was enlarged and worker benefits were extended in 1981 by the Reagan administration. D. All of the above are correct.
Money
a. is more efficient than barter. b. makes trades easier. c. allows greater specialization. d. All of the above are correct.
We cannot predict the effect on the market clearing price, but know that the equilibrium quantity will decrease when
A. supply and demand for a product simultaneously decrease. B. supply decreases and demand increases. C. supply increases and demand decreases D. supply and demand for a product simultaneously increase.