Most income transfer programs in the United States
a. are means-tested programs that transfer income to the poor.
b. allocate income to small businesses and small farmers.
c. are designed to help those with very little economic and political power.
d. allocate income to concentrated interest groups, such as the elderly, large farmers, and business interests.
D
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Which of the following describes a situation in which demand must be elastic?
a. Total revenue increases by 15 percent when the price of corndogs rises by 15 percent. b. Total revenue increases by less than 15 percent when the price of corndogs rises by 15 percent. c. Total revenue decreases by more than 15 percent when the price of corndogs rises by 15 percent. d. Total revenue increases by $15 when the price of corndogs rises by $15. e. Total revenue increases by more than $15 when the price of corndogs rises by $15.
Explain how the Federal Government's attempts to control inflation can affect our current account balance
If there is an unanticipated decrease in aggregate demand, which of the following is most likely to occur?
a. an increase in the price level b. a reduction in employment c. an increase in the growth rate of real GDP d. an increase in consumption
Refer to Figure 3.1. If one of the graphs represents the total benefit of an activity, which other graph best represents the marginal benefit of the activity?
B. B
C. C
D. D