Transfer payments are
What will be an ideal response?
transfers of income from taxpayers to recipients who do not provide current goods and services for the payments.
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The fact that indifference curves are downward sloping
A) is not true. B) follows from the fact that more is preferred to less. C) follows from the property that the consumer likes diversity in his or her consumption bundle. D) follows from the property that consumption and leisure are normal goods.
One example of labor-market discrimination is that a firm may be less likely to interview a job candidate whose resume clearly indicates he is not a good fit for the job
a. True b. False Indicate whether the statement is true or false
What do tests of the gravity equation for trade between Canadian provinces and American states indicate?
a. Individual state and individual provincial GDPs are negatively related to the amount of trade between individual states and provinces. b. Individual state and individual provincial GDPs are positively related to the amount of trade between individual states and provinces. c. Individual state and individual provincial GDPs are not at all related to the amount of trade between individual states and provinces. d. The gravity equation does not apply to U.S.Canadian trade.
In an economy with no government and no international trade, consumption expenditures will be less than the total value of goods and services when
A. saving is zero. B. investment is zero. C. people barter rather than use money in making exchanges. D. people save some of their income.