Food stamps and Medicaid are in-kind transfer programs
a. True
b. False
Indicate whether the statement is true or false
True
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The 1990s and 1920s have which of the following in common?
(a) Growth in real output, real output per person, employment and productivity (b) Changes in the levels of nominal output, money supply and participation in the stock market (c) Similar expansions in the stock markets at the end of each period (d) All of the above
Why might an equation that has always predicted accurately in the past prove to be wrong following a policy change?
a. Because the policy may change people's behavior and invalidate the equation. b. Because people's expectations may cease to be rational. c. Because uncertainty means that every equation contains some degree of error. d. Because the policy change may affect economic variables not contained in the equation.