Money payments made by governments to individuals for which no services or goods are concurrently rendered are known as
A) transfer payments.
B) government-sponsored payments.
C) government-inhibited payments.
D) black market payments.
A
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Refer to Figure 18.3. In autarky, the maximum amount of scooters that Livonia can produce is
A) 120. B) 100. C) 80. D) 40.
Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD3 the result in the short run would be:
A. P1 and Y2. B. P2 and Y3. C. P3 and Y1. D. P2 and Y2.
If markets are perfectly competitive and production of a good results in water pollution, the imposition of a tax on the good will:
A. reduce the number of firms producing that good in the long run. B. reduce the number of firms producing that good in the short run. C. increase the number of firms producing that good in the long run. D. increase the number of firms producing that good in the short run.
When expectations are rational, disequilibrium in the labor market would exist only temporarily as a result of unpredictable shocks in the economy.
Answer the following statement true (T) or false (F)