If an individual receives in-kind transfers from the government in the form of food stamps, public housing, and so on, his money income is
A. greater than his total income.
B. equal to his in-kind income plus his wages.
C. less than his total income.
D. the same as his total income.
Answer: C
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The figure above shows the market for coffee. The ________ price that producers must be offered to get them to produce 10 million pounds of coffee per month is ________
A) maximum; $2.00 B) maximum; $3.50 C) minimum; $2.00 D) minimum; $3.50
The two broad fields that make up the subject of economics are:
A. microeconomics and macroeconomics. B. personal investments and business investments. C. fiscal policy and monetary policy. D. imports and exports.
If the multiplier is 5.25, then the MPC is
a. 0.19. b. 0.68. c. 0.81. d. 0.84.
The Department of Justice could use the cross-price elasticity between products sold at Staples and Office Max to show that the firms are very similar.
Answer the following statement true (T) or false (F)