Government means tested programs ________ the overall poverty rate.
A. substantially decrease
B. have not changed
C. lead to an increase in
D. drop to zero
Answer: A
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Which of the following would increase the natural rate of unemployment?
A) an increase in the number of younger, less skilled workers in the economy B) a reduction in the generosity of unemployment insurance programs C) an increase in government-sponsored programs that train unemployed workers so they can find new jobs quickly D) restrictions on the ability of unions to negotiate wage changes with companies
When unanticipated inflation occurs:
What will be an ideal response?
An unequal distribution of income is considered fair according to Robert Nozick if
A) marginal cost equals marginal benefit. B) the cost of administering a welfare system is minimized. C) property rights are enforced and voluntary exchange occurs. D) the economy is producing its maximum total output. E) resources are allocated using the command method.
A firm that is earning zero economic profit should go out of business.
Answer the following statement true (T) or false (F)