Which of the following programs supplement the income of only low-income working families?
a. Supplemental Security
b. Social Security
c. Earned Income Tax Credit
d. Temporary Assistance for Needy Families
Answer: c. Earned Income Tax Credit
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When the government's outlays exceed its tax revenue, the national debt
A) shrinks thanks to the budget surplus. B) grows to finance the budget deficit. C) shrinks thanks to the budget deficit. D) grows to finance the budget surplus. E) does not change because it has nothing to do with government outlays and tax revenue.
The Bulgarian currency, the lev, is pegged to the euro at a rate of 1.96 leva (leva is the plural of lev) to the euro. At the pegged exchange rate, how many euros would be exchanged for one lev?
A) 0.51 B) 1.00 C) 1.96 D) 3.84
Assume there is a decrease in the supply of a product produced in a perfectly competitive market. All else constant, in the short run this will cause the profits of firms that produce substitutes for the good in question to increase
Indicate whether the statement is true or false
Which of the following is not a problem with poorly defined property rights?
a. Insufficient incentive exists to produce resources that cannot be protected. b. Resources will tend to be underutilized. c. Individuals may be able to use resources without paying for them. d. Little incentive to conserve on the use of poorly defined resources.