Which of the following is not correct?
a. A negative income tax only applies to working people, so it encourages people to get full-time work.
b. Supporters advocate the use of the Earned Income Tax Credit as a way to help the working poor.
c. A negative income tax subsidizes the incomes of poor people.
d. An advantage of a negative income tax is that it is not based on the number of children, so it does not provide incentives for unmarried women to have children.
a
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The exchange rate is
a. the rate at which goods will exchange for each other in the international market b. the number of units of one currency required in exchange for one unit of another currency c. the number of units of one currency required in exchange for one unit of another countries' good d. established by the ratio of the values of currency to goods e. set by each individual country, which is why we have deficits and surpluses on current account
You and your college roommate eat three packages of Ramen noodles each week. After graduation last month, both of you were hired at several times your college income. You still enjoy Ramen noodles very much and buy even more, but your roommate plans to buy fewer Ramen noodles in favor of foods she prefers more. When looking at income elasticity of demand for Ramen noodles,
a. yours would be negative and your roommate's would be positive. b. yours would be positive and your roommate's would be negative. c. yours would be zero and your roommate's would approach infinity. d. yours would approach infinity and your roommate's would be zero.
specialized investments
What will be an ideal response?
Refer to the payoff matrix below. In reference to the Nash equilibrium/equilibria in this game, which of the following is true?
Healthy Snacks and Best Treats are two firms competing in the health food snacks market. Both are considering introducing a new health food snack made purely of dried power fruits. The payoff matrix shows their net economic profit in millions for the different strategies.
A) There is one Nash equilibrium in this game.
B) There are three Nash equilibria in this game.
C) There are no Nash equilibria in this game.
D) There are two Nash equilibria in this game.