The Provision of Specific Goods and Services (Rather Than Cash)

question 23

Multiple Choice

The provision of specific goods and services (rather than cash) to needy people is:

• A)the income effect.
• B)the wealth effect.
• C)in-kind benefits.
• D)Rawlsian assistance.

---

Definitions:

Recession

A significant decline in economic activity spread across the economy, lasting more than a few months, typically visible in real GDP, income, employment, industrial production, and wholesale-retail sales.

Stagflation

A situation in an economy where there is slow economic growth, high unemployment, and rising prices simultaneously.

Inflation

The escalation rate of average prices for goods and services, which deteriorates buying power.

Disinflation

A decrease in the rate of inflation, indicating a slowdown in the rate at which prices increase.