A negative income tax system is designed to
a. provide in-kind benefits to the poor.
b. provide a minimum income to the poor.
c. reduce taxes on the rich when their incomes surpass the maximum income tax bracket.
d. subsidize food consumption in poor families.
b
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A rightward shift of the demand curve will lead to a(n)
A) increase in equilibrium price. B) excess demand at the old equilibrium price. C) increase in quantity supplied. D) All of the above.
Other things the same, an increase in foreign prices raises the real exchange rate
a. True b. False Indicate whether the statement is true or false
Answer the following questions true (T) or false (F)
1. In an oligopoly, minimum efficient scale is likely to occur at a level of output that is a large fraction of industry sales. 2. An equilibrium in which each player chooses its best strategy given the strategies chosen by the other players is called a Nash equilibrium. 3. The equilibrium in the prisoner's dilemma is a Nash equilibrium.
Refer to the information provided in Figure 23.1 below to answer the question(s) that follow.
Figure 23.1Refer to Figure 23.1. The equation for this household's saving is
A. S = -300 + 0.25Y. B. S = -1,000 + 0.8Y. C. S = -500 + 0.5Y. D. S = -200 + 0.8Y.