The poverty rate _______ between 1993 and 2000 and _____ between 2001 and 2004.
A. fell; fell
B. rose; rose
C. fell; rose
D. rose; fell
C. fell; rose
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The opportunity cost of an apartment in a rent controlled market is equal to
A) the rent charged for the apartment. B) the opportunity cost of searching for the apartment. C) the rent charged for the apartment plus the opportunity cost of searching for the apartment. D) nothing because of the surplus of apartments when there are rent controls. E) the rent charged for the apartment minus the opportunity cost of searching for the apartment.
Transfer payments
A) are included in the government expenditure category in gross domestic product. B) refer to all payments made to households by governments. C) refer to payments made by the government that are not made to purchase a good or service. D) are made by households to firms in exchange for goods and services.
If a buyer in an economic transaction has more information than the seller, the buyer benefits at the expense of the seller. This phenomenon is due to
A) moral hazard. B) economically irrational behavior. C) gains from trade. D) adverse selection.
What is an important difference between certificates of deposits (CDs) worth less than $100,000 compared to those worth $100,000 or more?
What will be an ideal response?