Which of the following is a true statement concerning federal transfer payments?
A. Transfer payments ultimately must be repaid to the government by recipients.
B. Transfer payments are included in the imports category of GDP.
C. Transfer payments are included in the net exports category of GDP.
D. Transfer payments are payments made by the government for which no good or service is currently received in return.
D. Transfer payments are payments made by the government for which no good or service is currently received in return.
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The financial statements of firms generally are audited by
A) employees of the firm being audited. B) employees of private accounting firms. C) the board of directors of the corporation being audited. D) employees of the federal government.
According to most economists, the development of markets is:
A. both a necessary and a sufficient condition for development. B. a sufficient condition for development but not a necessary condition. C. a necessary condition for development but not a sufficient condition. D. neither a necessary nor a sufficient condition for development.
If your income rises by one percent and, as a result, you buy more steak, then steak is a(n)
A) substitute. B) normal good. C) complement. D) inferior good.
Analysis that addresses the question of whether a policy should be used is called ________ analysis.
A. normative B. monetary C. fiscal D. positive