In the United States, an example of a common in-kind transfer would be:
A. public housing.
B. earned income tax credit.
C. Aid to Families with Dependent Children.
D. All of these are in-kind transfers.
A. public housing.
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A firm that has market power
A) can charge whatever it wants for its product. B) can charge a price above marginal cost. C) has positive economic profits. D) does not lose sales when increasing price.
The due process (or takings) clause is found in the
a. Fifth Amendment b. The Declaration of Independence c. The preamble to the U.S. Constitution d. In New Deal legislation e. First amendment
A market situation where a small number of sellers dominate the entire industry is called:
A. monopolistic competition. B. monopsony. C. monopoly. D. oligopoly.
A firm will attain more monopoly power as demand for its product becomes more elastic.
a. true b. false