In which of the following countries would an increase in per capita income likely result in the most improvement to health status of the population? (2006 per capita incomes in PPP dollars shown in parentheses.)
a. Mexico ($13,383)
b. New Zealand ($26,068)
c. Germany ($32,900)
d. United Kingdom ($34,084)
e. United States ($44,639)
A
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A college professor hires a student to babysit her children and pays the student an efficiency-wage. Which of the following is correct about the wage the student earns?
a. The wage is higher than the wage the student could earn working a similar job elsewhere. b. The wage is the same as the wage the student could earn working a similar job elsewhere. c. The wage is lower than the wage the student could earn working a similar job elsewhere. d. The wage is likely to result in the student shirking responsibilities.
Opportunity cost is the value of
A) the best (or most highly valued) forfeited alternative. B) the chosen alternative. C) a free good. D) all forfeited alternatives.
“The regulatory force in the market system bears the seeds of its own destruction.” Explain and evaluate
Please provide the best answer for the statement.
An example of a regressive tax is the
A. personal income tax. B. corporate income tax. C. Social Security tax. D. state inheritance tax.