In his book Progress and Poverty, Henry George argued that:
poverty is associated with the personal characteristics of individuals and therefore cannot
be remedied by government antipoverty programs.
B. economic rent could be heavily taxed without impairing the supply of land or therefore the
productive capacity of the economy.
C. rents should not be taxed because rental income is the basic source of saving, which
ultimately permits a high level of investment and economic growth.
D. taxes on rents are undesirable because they have a severe disincentive effect on
landlords.
Answer: B
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An example of an in-kind transfer is
A) national defense. B) Social Security. C) low-cost public housing. D) unemployment benefits.
Economists generally agree on the role the government should play in promoting productivity and economic growth
a. True b. False Indicate whether the statement is true or false
Give an example of price elasticity for each of the following factors: 1) the availability of close substitutes and 2) the proportion of income spent on the good. Avoid using examples from the text.
What will be an ideal response?
If expectations are formed adaptively, then people
A) use more information than just past data on a single variable to form their expectations of that variable. B) often change their expectations quickly when faced with new information. C) use only the information from past data on a single variable to form their expectations of that variable. D) never change their expectations once they have been made.