A transfer payment is a payment made by
a. consumers, but not in exchange for a tangible product.
b. firms, but not in exchange for capital equipment.
c. foreigners, but not in exchange for a domestically-produced good or service.
d. government, but not in exchange for a currently produced good or service.
d
Economics
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A person's stock of skills to produce economic value is referred to as:
A) fixed capital. B) human capital. C) personal wealth. D) personal capital.
Economics
A country is said to be experiencing deflation when
A) prices of most goods and services are rising over time. B) prices of most goods and services are falling over time. C) total output is rising over time. D) total output is falling over time.
Economics