A disadvantage of the Earned Income Tax Credit (EITC) program is that it does not help alleviate poverty due to unemployment, sickness, or other inability to work
a. True
b. False
Indicate whether the statement is true or false
True
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A differentiated product has
A) many perfect substitutes. B) no close substitutes. C) no substitutes of any kind. D) close but not perfect substitutes. E) many different complements.
The above table has the marginal product schedule for Nick's Dry Cleaners, a perfectly competitive dry cleaning firm
a) If the price to dry clean a blouse is $8 each, complete the last column of the table. b) If Nick can hire workers at the going wage rate of $16 an hour, how many workers does Nick hire?
When it comes to active policy making most economists agree that
A) active policy making should be used over passive policy making. B) it is unlikely that active policy making will have any long term effects on the economy. C) it is likely that active policy making will have long term effects on the economy. D) it will lead to long term shocks in the system.
For the following changes in the economy, indicate whether short-run aggregate supply or long-run aggregate supply will be affected. Indicate the direction of the change
a. an improvement in manufacturing technology b. an increase in the world price of antimony (a chemical that the U.S. imports) c. a bumper potato crop in the southern "potato belt"