The Temporary Assistance for Needy Families (TANF) program:
A. Put a limit on receiving welfare payments and required able-bodied adults to work after receiving assistance for two years
B. Increased the number of people receiving welfare benefits and the amount of the assistance
C. Required businesses to monitor low-income workers and used Federal funds to supplement their pay
D. Required the use of food stamps for food purchases by families, but permitted cash assistance to be given to the elderly
A. Put a limit on receiving welfare payments and required able-bodied adults to work after receiving assistance for two years
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Elasticity of demand is likely to be higher for less-expensive goods, other things being equal.
Answer the following statement true (T) or false (F)
Bill owns "Bill's Home of Blues" a store that specializes in selling CDs and DVDs of blues musicians of the 1960s and 1970s. Bill took out a loan from his bank to pay for his store and its initial inventory
Bill pays the bank $900 per week for his loan. The $900 bank payment A) is a short-run implicit cost. B) is a fixed cost. C) is a variable cost. D) is a long-run implicit cost.
There are circumstances under which the corporation tax is equivalent to an economic profits tax.
A. True B. False C. Uncertain
The final goods businesses keep for themselves are called
A) assets. B) savings. C) investment. D) sunk costs. E) intermediate goods.