Government purchases and transfer payments:
A. differ because the latter absorb resources while the former do not.
B. differ because the former absorb resources while the latter do not.
C. are alike because both are more inflationary than private spending.
D. are alike because both absorb resources.
Answer: B
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Which of the following could be considered a goal of policy to address poverty and inequality?
A. Economic development B. Safety nets C. Redistribution D. All of these are goals of policy to address poverty and inequality.
The law of demand illustrates that as
a. price decreases, demand increases. b. price increases, quantity demanded increases. c. price decreases, quantity supplied increases. d. price decreases, quantity demanded increases.
The payroll tax is the federal government's biggest source of revenue
a. True b. False Indicate whether the statement is true or false
Why is the monopolistic competitor’s demand curve more elastic than a pure monopolist’s, but less elastic than a pure competitor’s? What factors determine the price elasticity of demand for a monopolistic competitor?
What will be an ideal response?