Programs that provide goods or services, rather than cash, directly to needy individuals or households are called:
A. economic growth.
B. conditional cash transfers.
C. in-kind transfers.
D. social insurance.
Answer: C
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Social demand is equal to
A. Tax revenue plus or minus externalities. B. Public demand plus or minus externalities. C. Market demand plus or minus externalities. D. Private goods plus or minus externalities.
All of the following are reasons for economies of scale EXCEPT
A. specialization. B. dimensional factors. C. diminishing marginal product. D. more efficient production equipment.
The case of Airbus, an airplane manufacturing consortium in Europe, which receives large subsidies from several European countries, best exemplifies which rationale for protectionist policies?
A) helping domestic firms establish monopolies in world markets B) shielding workers from foreign competition C) protecting infant industries D) prevention of dumping in local markets
Refer to Figure 15-15. Why won't regulators require that Erickson Power produce the economically efficient output level?
A) because at the economically efficient output level, the marginal cost of producing the last unit sold exceeds the consumers' marginal value for that last unit B) because Erickson Power will earn zero profit C) because there is insufficient demand at that output level D) because Erickson Power will sustain persistent losses and will not continue in business in the long run