Which of the following is NOT an example of a transfer payment?
A) Social Security
B) unemployment benefits
C) welfare
D) interest payments on government bonds
Answer: D
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In the simplest Keynesian expenditure model, which of the following is fixed to allow for easy evaluation of changes in demand due to real income?
a. the price level b. interest rates c. tastes and preferences d. future expectations
The aggregate demand curve shows the quantity of domestic product
A. produced at each possible price level. B. demanded and produced at each possible price level. C. that is exported at each possible price level. D. demanded at each possible price level.
Present value is
A. the nominal value instead of the real value of something. B. the value of a dollar received a year from now, expressed in terms of its future value. C. the inverse of the interest rate. D. the value of a future amount expressed in today's dollars.
That most people would prefer to buy meat that is 80% lean rather than meat that is 20% fat is an illustration of the:
A. Anchoring effect B. Framing effect C. Confirmation bias D. Endowment effect