The distinction between income and needs of the working poor is not vital for policy concerns
Indicate whether the statement is true or false
F
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Taxes on beer are progressive if considered in terms of lifetime income because college students consume so much beer
a. True b. False
The primary advantage of Lindahl pricing is _____
a. that it is easy to calculate b. that at the price charged, every individual prefers a unique efficient level of output, increasing diversity in how the public good is provided c. that is necessary for economic efficiency d. that at the price charged, every individual prefers the same efficient level of output, making it more likely that the politically agreed upon output level is identical to the efficient output level
Why do economists insist on assuming that people behave rationally, when such an assumption is clearly false?
What will be an ideal response?
Above-equilibrium wages caused by efficiency wages will most likely result in
a. a shortage of labor. b. increased unemployment. c. compensating wage differentials. d. an decrease in the quantity of labor supplied.