It is enough to show just that the poor have different behavior to confirm the culture of poverty hypothesis
Indicate whether the statement is true or false
F
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Refer to Edgeworth Box Economy. In an Edgeworth box, a point where two indifference curves are tangent represents
a. the initial endowment point. b. an allocation that both consumers prefer to the initial endowment. c. a competitive equilibrium. d. a Pareto-optimal allocation of goods.
Which of the following is most likely to help the residents of a nation produce more goods and services and achieve higher income levels?
a. higher tax rates b. a higher rate of investment c. a smaller trade sector d. greater use of taxation to transfer income from the rich to the poor
To close a recessionary gap using fiscal policy, the government can _____
Fill in the blank(s) with the appropriate word(s).
Pareto optimality is the condition in which
A. it is possible to make one person better off without making someone else worse off. B. firms are forced to internalize the effects of all externalities. C. the distribution of income is equal. D. no change is possible that will make some members of society better off without making at least one other member of society worse off.