In the negative income tax plan, a guarantee of $5,000 and a tax rate of 50 percent imply a break-even income of which of the following figures?
a. $1,000
b. $2,500
c. $10,000
d. $12,500
c
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To determine an appropriate congestion tax, an economist has to assume that people respond to incentives
Indicate whether the statement is true or false
Fogel's (1964) work on railroads after the Civil War shows that they did not dominate the markets for steel, coal or wood
Indicate whether the statement is true or false
A person who previously had a full-time job has been paroled from prison and has applied for a job is considered
A) a reentrant. B) a job loser. C) a new entrant. D) not in the labor force.
You probably know why firms advertise. But the incentives to advertise vary from market structure to market structure. In which market structure is there a weak, but still existent, reason to advertise?
a. monopoly b. oligopoly c. monopolistic competition d. perfect competition e. there is no weak incentive—they are always strong