Who would receive payments from the government under a negative income tax system?
a. everyone
b. only people with no earnings
c. only people with incomes below a certain level
d. only people with incomes above a certain level
c
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In the textbook model of endogenous growth, in equilibrium, output grows at the rate of
A) sA - d. B) n + d. C) K. D) A.
Suppose that a worker in Country A can make either 10 iPods or 5 tablets each year. Country A has 100 workers. Suppose a worker in Country B can make either 2 iPods or 10 tablets each year. Country B has 200 workers. Country A has the absolute advantage in the production of:
A. iPods only. B. tablets only. C. both iPods and tablets. D. neither iPods nor tablets.
Which economist created the theory of creative destruction?
a. William Nordhaus b. Joseph Schumpeter c. Adam Smith d. Milton Friedman
An increase in the output price will increase the firm's demand for labor, all else equal
a. True b. False Indicate whether the statement is true or false