Which of the following transfer programs in the U.S. is funded by a national tax but administered by state governments?
a. Social security
b. Veterans' Administration Benefit program
c. Unemployment insurance
d. Food stamps
e. National Guard activities
c
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Generally, expenses on a truck are a large part of a consumer's budget, so the demand for trucks is more likely to be
a. elastic b. inelastic c. unit elastic d. perfectly elastic
You decided to take a college accounting course to brush up on your knowledge of the language of business. The tuition expense was $500. After the date has expired to receive a refund for the course, you are offered a job that would conflict with your class time. In making the decision to accept or decline
A. the opportunity cost of the job. B. the expected gain in pay from taking the accounting course. C. a sunk cost. D. a sunk benefit.
Explain the economics of why the refund might be set higher than the deposit.
State officials are establishing a deposit/refund system for batteries. Marginal costs and benefits have been estimated to be: MPC = 5 + 0.5Q MPB = MSB = 20 – 0.5Q MSC = 5 + 0.7Q, whereQ is in millions, and the marginal cost and benefit values are in dollars per battery.
A firm that practices multimarket price discrimination will set the lower price in the market that has the most elastic demand
What will be an ideal response?