SNAP (food stamps) and Medicaid are examples of:
a. money transfers
b. resource earnings
c. in-kind transfers
d. tax expenditures
c
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What is the fundamental principle that economists use when evaluating the costs and benefits of production?
A) cost of goods principle B) production principle C) marginal principle D) supply and demand principle
Suppose the U.S. Congress is successful in enacting tariffs large enough to eliminate the current account deficit. What would happen to the level of domestic investment?
A) It would not change. B) It would fall to a level equal to national saving. C) It would rise and exceed national saving. D) It would rise to a level equal to net foreign investment.
The official settlement balance
A) is an amount that the IMF requires each member country to pay annually. B) must by definition always be zero. C) equals the current account balance divided by the capital account balance. D) equals the net increase in a country's official reserve assets.
The market labor supply curve is the
a. vertical sum of the individual labor supply curves b. horizontal sum of the individual labor supply curves c. vertical difference of the individual labor supply curves d. horizontal difference of the individual labor supply curves e. average of the individual labor supply curves