Exhibit 12-7 Negative income tax
As shown in Exhibit 12-7, a family of four pays income taxes at:
A. an income of $5,000.
B. any income between zero and $40,000.
C. all levels of income.
D. any income above $40,000.
Answer: D
You might also like to view...
Producing leather creates external costs in the form of water pollution. The figure above illustrates the market for leather. In the absence of any government regulation, how many tons of leather will be produced?
A) 0 tons B) 200 tons C) 300 tons D) more than 300 tons E) None of the above answers is correct.
What tools can unions use to increase the demand for union labor?
What will be an ideal response?
Which of the following will shift the demand curve for capital leftward?
a. Introduction of supercomputers in the resource market b. A fall in the market interest rates c. An increase in the price of capital d. Business expectations of increased regulations e. A rise in the equilibrium wage of labor
In a perfectly competitive market, marginal revenue is the same as the market price
a. True b. False Indicate whether the statement is true or false