Rent subsidies and wage subsidies are better than price controls at helping the poor because they have no costs associated with them
a. True
b. False
Indicate whether the statement is true or false
False
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Answer the following statement(s) true (T) or false (F)
1. An indifference curve is a construct used by economists to show how tastes for an individual change. 2. There are an infinite number of choices faced by a consumer that are shown along an indifference curve. 3. Indifference curves fill the fourth quadrant of the plane. 4. If the marginal value of beef is $8 per pound, then the consumer is willing to pay at most $8 for an additional pound of beef. 5. The marginal value of a good is the dollar value that the consumer receives, on average, from each unit of the good purchased.
Inflation ________
A) is more costly when it is anticipated than when it comes as a surprise B) makes it more difficult to plan for the future, whether it is a surprise or not C) induces distortions in the money and goods market but not the labor market D) all of the above E) none of the above
What does Ricardian equivalence imply about the relative size of the expenditure and tax multipliers?
What will be an ideal response?
Which of the following will shift out to the right as productivity increases?
a. Aggregate demand curve b. Aggregate supply curve c. Demand curve d. Supply curve