Welfare programs differ from social insurance programs in that welfare programs
A. Are available only to people who do not work.
B. Offer benefits only to the needy.
C. Are event-based.
D. Have low target efficiency.
Answer: B
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An increase in labor productivity ________ the real wage rate and an increase in population ________ the real wage rate
A) raises; lowers B) raises; raises C) lowers; lowers D) lowers; raises
In the above figure, when the firm produces output corresponding to point c, the firm's marginal cost
A) is less than its marginal revenue. B) equals its marginal revenue. C) exceeds its marginal revenue. D) equals its average revenue.
In a pure flexible exchange rate system, deficits and surpluses in the balance of payments: a. are accommodated by financial borrowings. b. are accommodated by reserve movements. c. tend to disappear automatically
d. either b. or c.
Which of the following is a primary objective of monetary policy?
A) achieving a zero natural rate of unemployment B) targeting a zero rate of inflation C) achieving price stability D) all of the above E) none of the above