The Earned Income Tax Credit replaced many government transfer programs
a. True b. False
b
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Congress has ratified
A. both NAFTA and GATT. B. neither NAFTA nor GATT. C. NAFTA, but not GATT. D. GATT, but not NAFTA.
The ___________ curve facing a perfectly competitive firm is perfectly elastic.
A. average total cost B. marginal cost C. supply D. demand
Recall the Application about the effects of increasing state level Earned Income Tax Credit (EITC) on child health in the United States to answer the following question(s).Recall the Application. According to the study cited in the Application, does EITC improve income distribution?
A. Yes, aside from increasing income for low-income households, it improves the health levels of the worker and their families. B. Yes, EITC encourages workers to sop working and get an education in the health industry. C. No, only the politicians get rich because of EITC. D. No, the level of spending on EITC is so low it has no measurable effects on incomes of the poor.
If increases in government regulations have increased the cost of producing gasoline-powered lawnmowers, you accurately predict that in the market for gasoline-powered lawnmowers, there will be a(n)
A. decrease in the supply of gasoline-powered lawnmowers, an increase in the price, and a decrease in the quantity demanded. B. decrease in the quantity supplied of gasoline-powered lawnmowers, a reduction in the price, and an increase in the quantity demanded. C. decrease in the supply of gasoline-powered lawnmowers, an increase in the price, and a decrease in the demand. D. increase in the supply of gasoline-powered lawnmowers, an increase in the price, and a decrease in the demand.