Which of the following is provided by Supplemental Security Income (SSI)?
a. Cash support for the disabled and elderly poor
b. Debit cards for the poor to purchase food
c. Rent assistance for the poor and near-poor
d. Food assistance for pregnant women and newborns
a. Cash support for the disabled and elderly poor
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What is the relationship between the marginal product of labor and the marginal cost?
What will be an ideal response?
According to the law of demand, when will higher corn prices reduce the quantity demanded of corn?
a. Always. b. When the supply of corn is fixed. c. When nonprice determinants, like income and the number of buyers, are unchanged. d. When there are no shortages or surpluses of corn.
The article "Samsung Stung by Apple Moves" related to the price cuts for the iPhone indicates that
A. The percentage change in the quantity demanded for the substitute cell phones was increasing less than the percentage change in the price. B. The demand for the iPhone was inelastic. C. The cross-price elasticity for iPhones and other cell phones produced by Samsung was negative. D. Apple lowered the price for the iPhone because the cross-price elasticity between it and the other competitors was positive.
Which of the following is a unique feature of oligopoly?
A. Mutual interdependence. B. Advertising expenditures. C. Product differentiation. D. Nonprice competition.