An example of a transfer payment is:
A. a federal income tax refund.
B. a Social Security payment.
C. the $3 donation to the Wildlife Fund you make on your tax return.
D. the taxes corporations pay on profit.
B. a Social Security payment.
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The financial crisis of 2008 was triggered by:
A. a speculative bubble in the U.S. housing market. B. austerity measures introduced by the U.S. government to reduce the federal deficit. C. increased trade with China. D. the economic integration of the European Union.
A country undertakes a devaluation in order to
A) decrease its net exports. B) raise the value at which its currency is pegged. C) move to a flexible exchange rate system. D) increase its net exports.
If the percentage change in quantity demanded is greater than the percentage change in price, we would say that over this range, demand is:
A) elastic. B) unit elastic. C) inelastic. D) perfectly inelastic.
Because handling charges are relatively fixed, the interest rate on a loan generally
A) increases with the size of the loan. B) decreases with the size of the loan. C) is constant regardless of the size of the loan. D) is unrelated to the size of the loan.