Payments made to individuals for which goods or services are exchanged are known as ______.
a. co-pays
b. deductibles
c. transfer payments
d. taxes
c. transfer payments
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Explanations for the low saving rate in the United States consistent with the life-cycle reason for saving include:
A. well developed financial markets making it easy to borrow against home equity. B. relatively limited government assistance for the elderly and large down payments required for home purchases. C. confidence in future economic prosperity. D. households spending beyond their means to keep up with community standards
Which of the following is the most accurate statement about the Native Americans during the colonial period?
a. There is a strong consensus among historians about the size of the Native American population at the time of arrival of the first European settlers. b. Native Americans rarely formed trading alliances with the European settlers. c. The significant deterioration of the Native American population occurred after 1825, when the US started to expand to the west. d. The susceptibility to disease was one of the primary reasons the Native American population declined.
Suppose a consumer with an income of $100 is faced with Px = 1 and Py = 1/2. What is the market rate of substitution between good X (horizontal axis) and good Y (vertical axis)?
A. -1.0 B. -2.0 C. -4.0 D. 0.50
Exchange rate crises are only associated with fixed exchange rate systems
Indicate whether the statement is true or false