When the government transfers resources to the poor in the form of a good or service, it is called:
A. Temporary Assistance to Needy Families (TANF).
B. a regressive tax.
C. the Earned Income Tax Credit (EITC).
D. an in-kind transfer.
Answer: D
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Prove that the total cost curve and the total variable cost curve have the same slope
What will be an ideal response?
If more buyers came into the market for a good, we would expect to see the market demand curve
A) shift inward and to the left. B) remain unchanged since none of the determinants of individual demand changed. C) shift outward and to the right. D) reflect a positive relationship between price and quantity demanded.
Because market price always tends back to the minimum average total cost for all identical firms in a perfectly competitive market in the long run, in theory:
A. the supply will remain a constant quantity. B. price will be the same at any quantity. C. the supply curve will be upward sloping. D. the supply curve may be downward sloping.
Taxing pollution will encourage firms to reduce pollutants dumped in the atmosphere or in streams.
Answer the following statement true (T) or false (F)