Supplemental Security Income (SSI) is a type of
a. in-kind transfer.
b. minimum wage law.
c. private charity.
d. welfare payment.
d
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A curve that represents all combinations of market baskets that provide the same level of utility to a consumer is called:
A) a budget line. B) an isoquant. C) an indifference curve. D) a demand curve. E) none of the above
Many Americans have been hurt by recent economic events. Raising the minimum wage is the best policy to improve the wages and employment opportunities of Americans. This argument is
a. correct because a higher minimum wage will increase total income which will stimulate aggregate demand and employment. b. incorrect because while some people will receive higher wages, others will experience less employment and fewer training opportunities. c. correct because most minimum wage workers are household heads trying to earn enough to support their family. d. incorrect because the government has too big a deficit to pay for the increase in the minimum wage.
The end result of individual choices may be different from what one individual intends.
Indicate whether the statement is true or false.
Use the above table. When real disposable income is $125
A) APC = 0.80. B) MPS = 0.96. C) APS = 0.20. D) APC = 0.96.