The government redistributes income to the poor, primarily through

a. progressive taxes.
b. transfer payments.
c. government purchases.
d. both a and b.

d

Economics

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The table above gives the production possibilities frontier for a nation that produces wheat and soybeans

Use the information in that table to complete the table below, which has in it the opportunity costs of moving from one production point to another. Do not forget to note the units of the opportunity costs. Movement from Opportunity cost Movement from Opportunity cost A to B D to C B to C C to B C to D B to A

Economics

The price of a loaf of bread is $1.50, the price of a gallon of milk is $3.00, and the price of a pound of butter is $2.40

The price of a loaf of bread relative to a gallon of milk is ________, while the price of a gallon of milk relative to a pound of butter is ________. A) 0.5; 0.8. B) 0.5; 1.25. C) 2.0; 1.25. D) 2.0; 0.8.

Economics