Which of the following statements about transfer payments is true?
a. Transfer payments are not included in total government expenditures.
b. Transfer payments involve the international remittance of funds.
c. Transfer payments refer to the transfer of money by the commercial banks to the people.
d. Transfer payments are made by the government to taxpayers.
e. Transfer payments are made when governments purchase goods and services.
d
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After the imposition of the quota, the numbers of TVs imported will drop by ________ units.
A. 20,000 B. 40,000 C. 100,000 D. 80,000
Which of the following is an example of an organization using marginal analysis?
A. A hotel manager calculating the average cost per guest for the past year. B. A farmer hoping for rain. C. A government official considering what effect an increase in military goods production will have on the production of consumer goods. D. A business calculating economic profits.
The United States has relatively low tariffs.
Answer the following statement true (T) or false (F)
An interesting development that happened in late 2008, relating to the Fed and bank reserves, is that the Fed:
A. Reduced the reserve ratio drastically B. Required banks to hold more excess reserves C. Started paying interest on the banks' reserves D. Gave back all the reserves to the banks to hold as vault cash