There is widespread agreement across the political spectrum that the only way to break the cycle of poverty and welfare dependency is to
A. provide abortion on demand.
B. put every able-bodied person to work.
C. enact a negative income tax.
D. throw everyone off welfare.
B. put every able-bodied person to work.
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How does the market for inputs like labor differ from the market for goods and services?
What will be an ideal response?
Refer to the above figure. An unregulated natural monopolist's profits will be
A. losses equal to Q3 times distance d-e. B. losses equal to Q4 times distance f-g. C. profits equal to Q1 times distance a-b. D. profits equal to Q1 times distance a-c.
Which of the following happens during a recession?
A) Labor demand increases. B) The equilibrium wage rate rises. C) Labor supply falls. D) The equilibrium wage rate falls.
A downward sloping income-demand curve indicates that the good is a necessity.
Answer the following statement true (T) or false (F)