Which of the following is a government program that provides monthly debit cards to poor people to purchase food?
a. SNAP
b. WIC
c. TANF
d. EITC
a. SNAP
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A fall in the price of lemons from $10.50 to $9.50 per bushel increases the quantity demanded from 19,200 to 20,800 bushels. The price elasticity of demand is
A) 0.80. B) 1.20. C) 1.25. D) 8.00.
Except for perfect substitutes or perfect complements, indifference curves
A) are straight lines with a positive slope. B) slope upward to the right. C) are bowed in toward the origin. D) are bowed out away from the origin.
In an economy that relies upon barter,
a. trade does not require a double coincidence of wants. b. scarce resources are allocated just as easily as they are in economies that do not rely upon barter. c. there is no item in the economy that is widely accepted in exchange for goods and services. d. All of the above are correct.
Exhibit 2-13 Production possibilities curve
In Exhibit 2-13, in terms of efficiency:
A. point A is preferred to point B. B. point A is preferred to point E. C. point A is preferred to point D. D. point B is preferred to point A.