Means tested government programs:
A. require recipients to undergo skills testing for benefits.
B. define eligibility for benefits based on recipients' income.
C. are as effective as unconditional cash transfers.
D. are rarely used in the US.
B. define eligibility for benefits based on recipients' income.
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If the minimum wage is above the equilibrium wage rate, then an increase in the minimum wage ________ employment and ________ unemployment
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases E) does not change; increases
How do the owners of a corporation relate to the business?
A) The assets of the owners are considered the same as the assets of the business. B) The owners and the business are not separate legal entities. C) The owners and the business are separate legal entities. D) None of these describe the legal relationship of the owners to the business.
A fall in the price of a good causes an increase in its:
A. quantity demanded. B. demand. C. quantity supplied. D. supply.
Related to the Economics in Practice on p. 79: If the supply of generators increases and the demand for generators increases, the equilibrium price for generators ________ and the equilibrium quantity of generators ________.
A. may increase; decrease, or stay the same; may increase, decrease, or stay the same B. will increase; may increase, decrease, or stay the same C. will increase; will decrease D. may increase, decrease, or stay the same; will increase