Food stamps are government-issued "money" that can be used
a. by low-income people to buy food in supermarkets and restaurants
b. to exchange for real money to be used for purchases of food
c. by low-income people at most food stores to buy specific food items
d. by foreign tourists to buy imported foods
e. by low-income people to buy only bread, milk, and cheese from government outlets
C
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Undistributed profits ________ counted as part of GDP because ________
A) are not; households are not paid by the firms B) are; they can be used to buy other goods C) are; they are considered income paid to households and loaned back to firms D) are not; they are considered an intermediate good E) are; firms are required to pay corporate income taxes on them
Milton Friedman argued that there
A) are two Phillips curves, a short-run one and a long-run one. B) are three Phillips curves, a short-run one, a long-run one, and one in stagflation. C) is one Phillips curve, and it is vertical. D) is one Phillips curve, and it is nearly flat or horizontal.