Medicaid and food stamps are
a. available only to the elderly
b. part of Social Security
c. forms of in-kind assistance
d. forms of cash assistance
e. transfer payments to the poor
C
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If an early frost destroys most of the apple crop, the equilibrium price of an apple ________ and the equilibrium quantity ________
A) rises; increases B) rises; decreases C) falls; increases D) falls; decreases E) does not change; decreases
The intangible costs associated with reduced quality of life include:
a. potential income lost due to premature death. b. the cost of home remodeling to accommodate a physical handicap. c. pain and suffering. d. household services that must be replaced, such as housework. e. lost productivity at work.
A monopoly is a sole ____, and a monopsonist is a sole ____.
A. buyer in a product market; seller in a product market B. seller in a product market; seller in a labor market C. buyer in a product market; seller in a labor market D. seller in a product market; buyer in a labor market
Too much data is available to test macroeconomic models.
Answer the following statement true (T) or false (F)