A means tested government program is one that:
A. is pilot tested to see if it works.
B. provides assistance to those below a certain income level.
C. is temporary and ends after a short period of time.
D. All of these
Answer: B
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What type of variables have their movements explained by theory?
A) endogenous B) exogenous C) autonomous D) Both B and C
Greg's Tasty Ice Cream is considering building a new ice cream factory that costs $8.3 million. The company accountants believe that, not accounting for interest costs, building the factory will increase profits by $5 million the first year, $4 million the second year and have no value thereafter. Greg's Tasty Ice Cream should build the factory if the interest rate is
a. 3% but not if it is 4%. b. 4% but not if it is 5%. c. 5% but not if it is 6%. d. 6% but not if it is 7%.
An American computer is priced at $1,200. If the exchange rate between the U.S. dollar and the Mexican peso is $0.09 = 1 peso, approximately how many pesos would a Mexican buyer pay for the computer?
A) 13,333 pesos B) 108 pesos C) 133.50 pesos D) 15,075 pesos
Explain: “The land value tax is the economist’s ideal; it is neutral in its economic effects.”
What will be an ideal response?