The closest thing in the real world to a negative income tax is the _____
a. AARP
b. EITC
c. TANF
d. AFDC
b
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Which of the following events create an outward shift of the production possibilities curve?
A. The United States moves resources from the production of goods for domestic production to the production of goods for export. B. Tax reductions reduce the cost and increase the amount of investment in factories, machinery, and research and development. C. There is an migration of young people to another country where there is more political freedom. D. The unemployment rate falls from 33 percent to 12 percent.
The higher the insurance coverage, the ________ the policyholder can gain from risky activities that make an insurance payoff ________ likely
A) more; less B) more; more C) less; less D) less; more
Identify the industrial country that spends 43 percent of its budget on social security, health, and education programs
a. China b. India c. Brazil d. Russia e. The United States
Suppose that a foreign monopolist supplies the entire domestic market (there is no domestic production). The home country then applies a $10 tariff on imports from the foreign monopolist. The home country will be better off if:
a. the terms-of-trade gain is less than the deadweight loss from the tariff. b. the price change is more than the deadweight loss of the tariff. c. the deadweight loss is more than the price change from the tariff. d. the terms-of-trade gain is more than the deadweight loss from the tariff.