Income transfers directly alter the mix of output and answer the question of WHAT is produced question.
Answer the following statement true (T) or false (F)
False
Income transfer programs do not change the mix of output; they change FOR WHOM it is produced.
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When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
Very Technical is a firm that sells computing equipment. It costs Very Technical $125 for each order of computer monitors and the variable cost of placing an order is $10 per monitor. Very Technical pays an annual holding cost of $20 per monitor. If Very Technical sells 8,000 computer monitors a year and they order 1,000 monitors, what is the total annual cost of the monitors?
A) $59,500 B) $101,000 C) $87,500 D) $91,000
Jamestown's early years were marked by
a. a focus on futile "get rich quick" schemes. b. collective operations under which production methods and consumption were shared. c. lack of local control over production decisions. d. extremely high mortality rates. e. All of the above.
"Owners of firms in young industries should be willing to incur temporary losses if they believe that those firms will be profitable in the long run.". This observation helps to explain why many economists are skeptical about the
a. national-security argument. b. infant-industry argument. c. unfair-competition argument. d. jobs argument.