Which of the following is an in-kind transfer payment?
A. Medicaid.
B. Social Security.
C. unemployment compensation.
D. Temporary Assistance to Needy Families.
Answer: A
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The figure above shows the loanable funds market. If the real interest rate is 2 percent, then
A) there is a surplus in the loanable funds market. B) there will be a leftward shift in the demand for loanable funds curve. C) there will be government intervention in the market to make sure there is no credit crisis. D) there is a shortage in the loanable funds market E) the demand for loanable funds curve will shift rightward.
Recessions are identified by
a. severe and long-lasting phases of decreased output b. high employment c. constant output d. decreasing output e. low unemployment
If the price of a good falls by 10% and the percentage increase in the total amount consumers spend on the good is 5%, then the good is
A. elastic. B. inelastic. C. perfectly inelastic. D. unit elastic.
When a resource has a perfectly elastic supply curve
A) the amount of economic rent for the resource is determined by its supply. B) the amount of economic rent for this resource is determined by demand for the resource. C) there is no economic rent being earned by this resource. D) the entire payment received by this resource is economic rent.