In the antebellum economy of the South, what was not produced for subsistence consumption?
(a) Corn
(b) Cotton
(c) Cattle
(d) All of the above
(b)
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Which program provides assistance to the aged, blind and disabled?
A) Social Security Program B) Supplemental Security Income program C) TANF D) Earned Income Tax Credit
Suppose that personal income is $250 billion. Furthermore, assume that retained corporate earnings are $2 billion, social security taxes are $15 billion, social security benefit checks equal $16 billion, the capital consumption allowance is $32 billion, and corporate taxes amount to $40 billion. The national income of this nation will be:
a. $236 billion. b. $249 billion. c. $251 billion. d. $279 billion. e. $290 billion.
A law that requires hairdressers to undergo many hours of training and acquire a license before they can offer haircuts to the public is an example of a
a. positive externality. b. natural monopoly. c. barrier to entry. d. public good.
Congress decided to implement a fiscal policy, but argued for weeks about how to do it. Once they agreed on a plan, the president had to deliberate and consult his cabinet members before signing it. This is an example of ______.
a. an impact lag b. a crowding-out lag c. a recognition lag d. an implementation lag