The largest single transfer program at the federal level is unemployment insurance.
Answer the following statement true (T) or false (F)
False
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In a payoff matrix for a three-player game, there are three payoffs in each cell. The third payoff goes to the column player
Indicate whether the statement is true or false
Monopolistic competition exists when there is one large firm in an otherwise perfectly competitive market
a. True b. False
Consider the indifference curve-budget line model of labor supply, and assume consumption and leisure are both normal goods. A higher wage rate would result in
a. more consumption and less leisure. b. a reduction in the worker's marginal value of leisure. c. reduced consumption if the income effect is larger than the substitution effect. d. increased labor only if the substitution effect outweighs the income effect.
Which of the following is NOT a characteristic of the capitalist form of economic organization?
A. Central planning. B. A reliance on decentralized market processes for resource allocation purposes. C. Private ownership of productive resources. D. All decisions are made by the government.