A transfer payment is a sum of money a. spent by government for new goods and...
A transfer payment is a sum of money
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Homework Answers
Ans) the correct option is e) given by government without a good or service in exchange
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A transfer payment is a sum of money
a.
spent by government for new goods and...
Identify whether each of the following government expenditures is a payment for goods and services or...
Identify whether each of the following government expenditures is a payment for goods and services or a transfer payment: a) A local public school hires a new teacher. Transfer payment Payment for goods and services b) Medicare pays for a knee replacement for a 66-year old. Payment for goods and services Transfer payment c) A poor family gets food stamps. Payment for goods and services Transfer payment d) The Social Security Administration issues a monthly check to a retiree. Payment...
1. All of the following are examples of government purchases of goods & services EXCEPT The...
1. All of the following are examples of government purchases of goods & services EXCEPT The government makes social security payment to your grandmother The government pays the salaries of military servicemen and servicewomen The government pays the salaries of members of Congress The government purchases 500 new helicopters for the army 2. All of the following are examples of investment spending EXCEPT A household purchases a newly constructed house A business purchases new robotic manufacturing equipment A business purchases...
A local government has the following transactions during the current fiscal period. Prepare journal entries without...
A local government has the following transactions during the current fiscal period. Prepare journal entries without dollar amounts, first for fund financial statements and then for government-wide financial statements. a. The budget for the police department, ambulance service, and other ongoing activities is passed. Funding is from property taxes, transfers, and bond proceeds. All monetary outflows will be for expenses and fixed assets. A deficit is projected. b. A bond is issued at face value to fund the construction of...
19. Which of the following is included in government expenditures when measuring GDP? A) Social Security...
19. Which of the following is included in government expenditures when measuring GDP? A) Social Security payments B) unemployment compensation payments C) pension payment made to past presidents D) the current president's salary 20. Transfer payments A) are included in the government expenditure category in gross domestic product. B) refer to all payments made to households by governments. C) refer to payments made by the government that are not made to purchase a good or service. D) are made by...
Consider an economy in which taxes, planned investment, government spending on goods and services, and net...
Consider an economy in which taxes, planned investment, government spending on goods and services, and net exports are autonomous, but consumption and planned investment change as the interest rate changes. You are given the following information concerning autonomous consumption, the marginal propensity to consume, planned investment, government purchases of goods and services, and net exports: Ca = 1,500 – 10r; c = 0.6; Ta = 1,800; Ip = 2,400 – 50r; G = 2,000; NX = -200 (a)Derive Ep and...
14. In computing GDP, which of the following represents a “transfer payment” as defined by the...
14. In computing GDP, which of the following represents a “transfer payment” as defined by the textbook? (x) You transfer $1,000 from your bank account to a mutual fund. (y) Your grandfather receives his Social Security check from the U.S. government. (z) The government sends an unemployment insurance check to Boris after he was laid off from his job. A. (x), (y) and (z) B. (x) and (y) only C. (x) and (z) only D. (y) and (z) only E....
9. Transfer payments are: A. spending that transfers resources from the government to individuals. B. payments...
9. Transfer payments are: A. spending that transfers resources from the government to individuals. B. payments that individuals make to the government. C. when individuals transfer stock ownership in lieu of payment with cash or other liquid assets. D. when individuals transfer cash for payments of a good or service. 10. U.S. exports are: A. U.S. goods sold to foreigners. B. Foreign goods bought by Americans. C. U.S. goods sold to Americans. D. Foreign and U.S. goods sold to foreigners,...
1. The government of Cloneland faces a long-standing constitutional con- straint against levying lump-sum taxes. This...
1. The government of Cloneland faces a long-standing constitutional con- straint against levying lump-sum taxes. This is unfortunate, because everyone in Cloneland is identical. The government must raise a given revenue of R per person to pay tribute to a foreign colonial power that conquered Cloneland many centuries ago. The citizens of Cloneland consume two goods (21 and x2) and they supply labour (L) to earn enough to cover their consumption purchases. The Clones all have a wage of one;...
QUESTION 13 Real money balances equal the: a. sum of coin, currency, and balances in checking...
QUESTION 13 Real money balances equal the: a. sum of coin, currency, and balances in checking accounts. b. amount of money expressed in terms of the quantity of goods and services it can purchase. C. number of dollars used as a medium of exchange. d. quantity of money created by the Federal Reserve. QUESTION 14 In the case of an unanticipated inflation TT> E[ a. lenders with an unindexed contract are hurt because they get less than they expected in...
Uni ule government allows the exchange rate to float. a. Lump-sum taxes increase. b. Foreign income...
Uni ule government allows the exchange rate to float. a. Lump-sum taxes increase. b. Foreign income increases. c. Investors expect an appreciation of the home currency. d. The money supply decreases. 2. For each of the following scenarios, assume the economy experiences an exogenous decrease in investment demand. For each case, illustrate the IS-LM-FX diagram and state the effect of the shock (increase, decrease, no change, or ambiguous) on the following variables: Y, i, E, C, I, TB. Here, we...
19. Which of the following is included in government expenditures when measuring GDP? A) Social Security payments B) unemployment compensation payments C) pension payment made to past presidents D) the current president's salary 20. Transfer payments A) are included in the government expenditure category in gross domestic product. B) refer to all payments made to households by governments. C) refer to payments made by the government that are not made to purchase a good or service. D) are made by...
1. The government of Cloneland faces a long-standing constitutional con- straint against levying lump-sum taxes. This is unfortunate, because everyone in Cloneland is identical. The government must raise a given revenue of R per person to pay tribute to a foreign colonial power that conquered Cloneland many centuries ago. The citizens of Cloneland consume two goods (21 and x2) and they supply labour (L) to earn enough to cover their consumption purchases. The Clones all have a wage of one;...
QUESTION 13 Real money balances equal the: a. sum of coin, currency, and balances in checking accounts. b. amount of money expressed in terms of the quantity of goods and services it can purchase. C. number of dollars used as a medium of exchange. d. quantity of money created by the Federal Reserve. QUESTION 14 In the case of an unanticipated inflation TT> E[ a. lenders with an unindexed contract are hurt because they get less than they expected in...
Uni ule government allows the exchange rate to float. a. Lump-sum taxes increase. b. Foreign income increases. c. Investors expect an appreciation of the home currency. d. The money supply decreases. 2. For each of the following scenarios, assume the economy experiences an exogenous decrease in investment demand. For each case, illustrate the IS-LM-FX diagram and state the effect of the shock (increase, decrease, no change, or ambiguous) on the following variables: Y, i, E, C, I, TB. Here, we...
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