Which of the following programs are in-kind?
A. EITC
B. AFDC/TANF and EITC
C. AFDC/TANF
D. WIC
Answer: D
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Tobin's model of the speculative demand for money shows that people hold money as a ________ as a way of reducing ________
A) medium of exchange; transaction costs B) medium of exchange; risk C) store of wealth; transaction costs D) store of wealth; risk
Assume Kevin's income to spend on the two goods in the graph shown is $48, and books cost $12. If Kevin's budget constraint is one of the lines in the graph, which one must it be?
A. A
B. B
C. C
D. It could be either A or B
The Federal Reserve Board of Governors
A. will lower the discount rate to restrict monetary growth. B. are appointed by the president for seven-year terms. C. is basically independent. D. serve at the pleasure of the president, who can force their resignations at any time.
Which of the following statements accurately describes the U.S. economy over the long run?
a. The nation’s long-run aggregate supply curve shifts leftward over time as potential output grows. b. The economy is often at a point where actual and potential real GDP are equal. c. The nation’s potential real GDP at full employment shifts rightward over time. d. The economy often operates along the long-run aggregate supply curve.