Which of the following checks issued by the government represents a transfer payment?
A. The state of Oregon pays a construction firm for its work in repairing a state highway.
B. The state of Illinois pays groundskeepers at the state capitol building their weekly wages.
C. The federal government pays a retiree her Social Security benefits.
D. The federal government pays a defense contractor for development of a missile system.
Answer: C
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In the above figure, at the equilibrium price and quantity, consumer surplus is ________
A) $90 B) $60 C) $45 D) $30
In the above table, the relationship between x and y is ________ and, with y measured on the vertical axis, the slope between y = 5 and y = 8 is equal to ________
A) negative; 8 B) negative; 6 C) positive; 5 D) positive; 3
Which of the following will cause the LM curve to shift to the left?
A) A decrease in investment B) A decrease in money demand C) An increase in velocity D) A decrease in the money supply
If the net present value is exactly equal to zero, the present value of the investment's stream of future operating profits is ________ the present value of its cost.
A) exactly double B) greater than C) equal to D) less than