The welfare program economists believe to be most compatible with economic efficiency is
a. a regressive tax system.
b. AFDC.
c. a negative income tax.
d. Medicare/Medicaid.
c
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"Trade liberalization should precede capital account liberalization." Discuss
What will be an ideal response?
If an economy keeps increasing its capital stock, then over time its production possibilities curve will
a. remain unchanged but more capital goods will be produced b. shift outward c. shift inward d. disappear because scarcity will eventually be overcome e. remain unchanged, but production will occur outside (exterior to) the curve
One way to measure national debt over time is debt relative to:
a. the cash flow of the banking system. b. the economy's production and income. c. credit sales of consumer durables over a year. d. national home sales in large cities.
Outlays for unemployment compensation and welfare benefits
A. Are eliminated when the economy expands. B. Increase when the economy goes into recession. C. Remain constant at all times. D. Increase when the economy experiences a peak.