Welfare benefits
a. may do of all of the following
b. may discourage poor people from taking jobs
c. may cause job skills to deteriorate
d. take the form of cash or in-kind transfers
e. allow increased consumption by many poor children
A
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The prisoners' dilemma is similar to the problem faced by firms in an oligopoly in the United States because
A) mutual interdependence exists, and collusion is illegal in the United States, so the firms cannot legally communicate. B) collusion is legal in the United States, and firms can communicate their pricing decisions to each other. C) failure to cooperate leads to better outcomes than cooperation. D) private prisons are run by oligopolies. E) the firms can communicate, but mutual interdependence exists.
Unit elastic demand means that the
A) ratio of a change in the quantity demanded to a change in the price equals 1. B) ratio of a percentage change in the quantity demanded to a percentage change in the price equals 1. C) demand curve is vertical. D) demand curve is horizontal.