The government program that provides aid to families in need is
A) TANF.
B) Social Security program.
C) Supplemental Security Income program.
D) Earned Income Tax Credit.
Answer: A
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The medium of exchange is defined as
A) an object that is accepted in return for goods and services. B) the exchange of goods and services directly for goods and services. C) an item that can be stored and hold its value over time. D) credit cards. E) barter.
What is a mutual fund?
The money market clears as people with excess real balances:
a. buy bonds and drive down nominal rates of interest until the demand for real balances equals supply. b. sell bonds and drive up nominal rates of interest until the demand for real balances equals supply. c. increase spending, driving up nominal GDP and raising nominal rates of interest. d. sell financial assets such as stocks to increase the total supply of real balances.
Over the price range from $180 to $120 in Figure 20.1, ceteris paribus,
A. Demand is increasing. B. Total revenue is maximized. C. Utility is maximized. D. Demand is elastic.