Since its inception in 1996, the Temporary Assistance for Needy Families (TANF) program has:
A. increased, rather than reduced, the number of people on welfare.
B. reduced the number of people on welfare by more than one-half.
C. aided the poor by automatically increasing welfare payments when inflation occurs.
D. greatly increased the unemployment rate.
Answer: B
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Budget projections for 2014-2020 indicate both higher levels of government spending and large budget deficits. According to the Keynesian view, this will lead to
a. an increase in aggregate supply during that decade. b. weak aggregate demand and a continuation of recessionary conditions. c. an increase in aggregate demand and real output. d. higher interest rates and taxes that will retard future growth.
Law of demand
What will be an ideal response?
Which of the following statements is true?
A. The WTO allows countries to pursue environmental protection using policies that limit international trade and hence is unable to address the problem of disguised protectionism. B. The WTO allows a country to impose an import restriction on a good for health reasons as long as the country also restricts the domestic production or consumption of the good. C. The WTO is the final arbiter of whether goods pose a health or safety risk. D. The World Trade Organization (WTO) allows a country to impose a trade restriction on imports of a good because it was produced using methods that violate the importing country's environmental standards.
In a graph with output on the horizontal axis and total revenue on the vertical axis, what is the shape of the total revenue curve for a perfectly competitive seller?
A) U-shaped B) inverted U-shaped C) a horizontal line D) a ray from the origin