A preliminary conclusion about welfare reform is that
a. work requirements do seem to yield substantial declines in welfare caseloads
b. work requirements cause welfare caseloads to increase
c. such reform can only be instituted when the economy is strong
d. welfare can be reformed even when the economy is weak
e. welfare rolls decline faster when the economy is weak because more people need income during those times
A
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Given that milk and cookies are complements, suppose the price of flour (an ingredient in cookies) rises. What happens in the market for milk?
A) The equilibrium price and quantity rise. B) The equilibrium price rises and the equilibrium quantity falls. C) The equilibrium price and quantity fall. D) The equilibrium price falls and the equilibrium quantity rises.
Refer to Table 2-12. If the two countries specialize and trade, who should export sailboats?
A) There is no basis for trade between the two countries. B) Guatemala C) They should both be importing sailboats. D) Honduras