Which of the following would be considered income in kind?
A) tax refunds
B) food stamps
C) yard sales
D) reduction in the tax rates
Answer: B
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A Lorenz curve measures
A) the benefits received through welfare programs. B) the actual income distribution and compares it to an equal income distribution. C) the degree to which income taxes are regressive. D) the effect of flat taxes on income distribution.
You manage a new product development team for an electronics manufacturer, and your firm's policy is that all new projects must pay for themselves in the first five years
Your team has projected that the first year of the project requires an initial investment of $2 million with no revenue, the second year loss is $500,000, the net revenue for year 3 is zero, and you earn $1.8 million in both year 4 and year 5. If the opportunity cost of capital for your firm is 8%, should you go ahead with this project? A) No, the expected NPV is negative B) Yes, the expected NPV is roughly $290,000 C) Yes, the expected NPV is $1.1 million D) We do not have enough information to answer this question.
In the long run in perfect competition, no firm can earn a normal profit
a. True b. False
When the U.S. experiences economic growth, the poverty rate will:
A. increase, because growth typically only benefits the richest 1 percent. B. fall, because growth typically helps the poor more than the wealthy. C. fall, because growth has benefited everyone. D. increase, because growth has benefited the wealthy more than the poor.