Under the current welfare scheme, the federal government provides state governments with capped block grants to administer state-run welfare programs, but welfare recipients must participate in work activities
a. within six months of receiving welfare or risk losing it
b. within two years of receiving welfare or risk losing it
c. within five years of receiving welfare or risk losing it
d. within ten years of receiving welfare or risk losing it
e. never
B
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Economic growth is determined by forces outside the control of the market system.
Answer the following statement(s) true (T) or false (F)
The supply curve of a public good shows
A) the marginal cost of producing each unit of the good. B) the total quantities that all producers are willing and able to supply at each price. C) the maximum amount suppliers require to produce each quantity of the good. D) the total cost of producing each unit of the good.
A default rule:
A. is a consequence that users of commitment devices agree to if they fail to follow through with their commitment. B. defines what will automatically occur if someone fails to make an active decision otherwise. C. is a defined limit used to mark when someone is decidedly not making a good decision. D. is the defined strength of a given commitment needed to get an individual to follow through with the commitment.
Uncoordinated decisions in perfect competition lead to mass confusion and inefficiency
a. True b. False Indicate whether the statement is true or false