Which of the following is an in-kind transfer payment?
A. Medicaid.
B. Social Security.
C. unemployment insurance.
D. Temporary Assistance to Needy Families.
Answer: A
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Two drawbacks in using fiscal policy as a stabilization tool are that fiscal policy can affect ________ as well as aggregate demand and that fiscal policy is ________.
A. consumption; offset by automatic stabilizers B. potential output; not flexible enough C. potential output; offset by automatic stabilizers D. consumption; too flexible
Financial intermediaries reduce the costs of negotiation by
A) investing in a large number of projects with independent returns. B) gaining expertise in evaluating and monitoring investments. C) investing in a small number of projects with independent returns. D) pooling funds.
Specialization of labor makes sense only if there is some means of exchange
a. True b. False Indicate whether the statement is true or false
Refer to the figure below.
If a price ceiling were imposed at $4, producer surplus would be:
A. $16. B. $8. C. $4. D. $24.