Advocates of antipoverty programs believe that fighting poverty
a. can make everyone better off.
b. is most successfully accomplished by charities.
c. is most efficiently accomplished by the market.
d. reduces the well-being of tax payers.
a
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An example of a market where a Bertrand model would be plausible is the market for
A) oil. B) wheat. C) beer. D) sugar.
To combat the financial crisis and recession which began in 2007, governments worldwide made it:
A. easier for firms and households to borrow money for investment and consumer goods. B. easier for other countries to borrow money for infrastructure projects. C. easier for firms to pay their taxes by providing a tax amnesty. D. easier for workers to purchase health insurance through their employers.
Applied to perfectly competitive labor markets, the marginal principle tells firms to hire workers until:
A. the marginal revenue product of the last worker hired equals the wage. B. marginal productivity begins to diminish. C. average total costs are minimized. D. the price of the product equals the wage of the worker.
If the marginal tax rate is less than the average tax rate, the tax would be
A. proportional. B. progressive. C. regressive. D. uniform.