The best government policy to reduce poverty is
a. a minimum wage law because the resulting unemployment is small in comparison to the benefits to people it helps.
b. an expanded welfare program because people must have an additional "need" such as small children or a disability.
c. an in-kind transfer because it ensures that the poor receive what they need most such as food or shelter.
d. not obvious. Government programs to reduce poverty have many advantages but also many disadvantages.
d
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Industry X comprises only very few large firms engaged in stiff competition with each other. Industry X can best be described as
A) pure competition. B) monopolistic competition. C) pure monopoly. D) oligopoly.
Using a carefully-labeled graph, explain the concept of declining marginal rate of substitution. Why would we expect indifference curves to exhibit this characteristic?
What will be an ideal response?
Holding constant risk and the real returns available abroad, higher domestic real interest rates ________ capital inflows, ________ capital outflows, and ________ net capital inflows.
A. increase; increase; decrease B. decrease; decrease; decrease C. increase; decrease; increase D. increase; increase; increase
Exhibit 15-1 Production possibilities curves
In Exhibit 15-1, the production possibilities curves of wheat and corn for Nabia and Pada are presented. Suppose Nabia produces at point A on its PPC. How many units of wheat is the country able to produce?
A. 15. B. 60. C. 40. D. 20.