Welfare reform in the U.S. was designed to change an entitlement program into a program that __________.
a. requires work in exchange for assistance for a limited time
b. encourages those with lessor abilities to remain out of the work force
c. helps low income families retain a sense of community
a. requires work in exchange for assistance for a limited time
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The ________ the marginal tax rate, the ________ the expenditure multiplier
A) larger; more negative B) smaller; smaller C) larger; larger D) smaller; larger E) None of the above is correct, because the expenditure multiplier is not related to the marginal tax rate.
The optimal bidding strategy in a first-price sealed-bid auction is identical to the optimal bidding strategy in a(n) ________ auction
A) open-outcry English B) open-outcry Dutch C) second-price sealed-bid D) dollar
In the table above, what does the private sector surplus equal?
A) $500 billion B) $350 billion C) $150 billion D) $0
According to Keynesian theory, a decrease in government expenditures would be a proper fiscal policy during
A. an inflationary gap. B. a recessionary gap. C. a natural disaster. D. none of these.