A negative income tax program is:
a. b, c, d, and e.
b. basically an income tax in reverse.
c. based on government cash payments to the poor that are linked to their income levels.
d. designed to provide a minimum level of income to the poor.
e. based on cash payments that decline as income level increases.
a
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People use water for trivial, unimportant purposes because
A) there is little demand for water. B) its relative price is very low. C) they don't realize how essential water is to life. D) they don't realize the world's supply of water is limited. E) they underestimate the total demand for water.
The inability of the Federal Reserve to explain movements in M1 demand has led to
A) less emphasis on money growth as a policy tool. B) the Federal Reserve's targeting V1 growth more closely. C) the Federal Reserve's switching to M2 and M3 targets. D) All of the above.
Today, __________ state banks are members of the Federal Reserve System
A) all B) most C) a minority of D) none of the
In ____ price discrimination, the monopolist charges each consumer the highest price that purchaser is willing to pay for each unit purchased (provided that this price exceeds the marginal cost of production)
a. first-degree b. second-degree c. third-degree d. a and b e. none of the above