Who would receive payments from the government under a negative income tax system?
A. Everyone
B. Only people with no earnings
C. Only people with incomes below a certain level
D. Only people with incomes above a certain level
Answer: C
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The marginal value that a consumer places on the last unit can be read off of the
a. demand curve. b. supply curve. c. contract curve. d. production possibility curve.
In the long run, what effect does a government's deficit spending have on equilibrium real Gross Domestic Product (GDP)?
A) Equilibrium real Gross Domestic Product (GDP) will increase beyond the full-employment level and there will also be an inflationary effect. B) Higher government deficits will not raise equilibrium Gross Domestic Product (GDP) above the full-employment level. C) Deficit spending will decrease the nation's equilibrium real Gross Domestic Product (GDP). D) The government's deficit spending will increase equilibrium real Gross Domestic Product (GDP).
Which of the following statements is true?
A) A monopolist's product often has close substitutes. B) Firms under perfect competition produce differentiated products. C) Firms under monopolistic competition produce identical products. D) Firms under oligopoly produce either identical or differentiated products.
By bundling share purchases of many investors together mutual funds can take advantage of economies of scale and thereby lower
A) adverse selection. B) moral hazard. C) transactions costs. D) diversification.