Transfer payments are payments to individuals for which nothing is currently rendered in return.
Answer the following statement true (T) or false (F)
True
Transfer payments are payments to individuals for which nothing is currently rendered in return.
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One assumption of the perfectly competitive model is free entry and exit. This assumption most directly leads to the implication that:
A. firms will compete on the basis of better service rather than lower prices. B. positive economic profit is only possible in the short run. C. firms will have to spend money on advertising. D. a long-run equilibrium cannot be achieved.
Which of the following statements about the financial crisis that began in 2008 is true?
A) It was a great illustration of how interdependent national economies are. B) Most economists agree that it originated in China. C) It only lasted 3 weeks. D) It only affected housing markets.
In the Keynesian model of an open economy, a temporary decrease in government purchases would ________ the domestic real interest rate and ________ net desired saving (desired saving less desired investment) in the economy
A) lower; increase B) lower; decrease C) raise; increase D) raise; decrease
The answer is: "Policymakers are not aware of changes in the economy as soon as they happen." What is the question?
A) What is the wait-and-see lag? B) What is the data lag? C) What is the effectiveness lag? D) What is the transmission lag? E) none of the above