Income security expenditures include
A. Medicare, Social Security, and unemployment compensation.
B. Social Security and disability benefits, but not Medicare.
C. unemployment compensation, disability benefits, and Medicare, but not Social Security.
D. transfer payments to the disadvantaged, but not transfer payments to the elderly.
Answer: A
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A flour mill holding exclusive contracts to 95% of the wheat in a large geographic area may operate as a flour producing monopoly locally because
A) the mill has a very inelastic supply curve. B) the mill is a natural monopoly. C) the mill controls a key input. D) the government will declare it a monopoly.
If the transactions approach to measuring money is used, then the money supply consists of
A) currency only. B) transaction deposits only. C) currency and transaction deposits only. D) currency, checkable and debitable deposits, and traveler's checks.