With which choice are you more likely to avoid Bid-rigging cartels?
a. Holding English auctions
b. Holding sealed-bid auctions
c. Holding oral auctions
d. All of the above
b
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A program under which the government gives all citizens a substantial lump sum payment that is financed by a tax earned income is termed a(n) ________.
A. positive income tax. B. in-kind transfer. C. negative income tax. D. unearned income tax credit.
Refer to the graph shown. If government establishes a minimum wage at $7.25 per hour:
A. there will be a shortage in this labor market. B. employers will be unable to find enough qualified applicants to fill the available positions. C. the number of job seekers will exceed the number of job vacancies, resulting in some unemployment. D. employers will be forced to hire 900 workers, resulting in reduced profits.
Fiscal policy is the use of
A. Trade policy to alter macroeconomic outcomes. B. Money and credit controls to alter macroeconomic outcomes. C. Government spending and taxes to alter macroeconomic outcomes. D. Tax incentives, deregulation, and other mechanisms to increase the ability and willingness to produce goods and services.
The behavior of regulators when trying to win approval for their actions from their entire constituency is best described by the
A. share-the-gains, share-the-pains hypothesis. B. marginal benefit pricing hypothesis. C. capture hypothesis. D. law of increasing social well-being.