Temporary Assistance for Needy Families (TANF) and Supplemental Security Income (SSI) are examples of
welfare programs
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Rational individuals prefer to consume goods during the current year rather than in the future because of:
a. positive time preference. b. positive consumption preference. c. high expected rate of inflation. d. high market rate of interest.
The above figure shows the PPF for a country that produces computers and computer factories. Which of the following would most likely shift the PPF from PPF0 in one year to PPF1 in the next?
A) Nothing, because the PPF does not shift. B) Increase the production of computers from 9 million (at point C) to 11 million (at point B). C) Decrease the production of computers from 11 million (at point B) to 9 million (at point C) and build 9 new computer factories. D) Increase consumption of both computers and computer factories. E) Decrease production of both computers and computer factories by moving into the interior of the PPF.
Disposable income is National income
A) less taxes collected from households and firms by the government. B) plus net taxes collected from households and firms by the government. C) less net taxes collected from firms by the government. D) less net taxes collected from households by the government. E) less net taxes collected from households and firms by the government.
The production possibilities curve for the nation of Economagic shifts to the left. This could have been caused by:
A. an increase in Economagic's labor supply. B. innovation in the production of goods in Economagic. C. a war that destroyed some of Economagic's resource base. D. unemployment among Economagic's workers.