If a good is produced with technology that allows the best producer to supply every customer at a low cost and every customer in the market wants to enjoy the good supplied by the best producer, the best producer will be called a
superstar.
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All of the following are programs that redistribute income by making direct payments to people in the lower part of the income distribution EXCEPT
A) social security programs. B) welfare programs. C) Individual Retirement Accounts. D) unemployment compensation.
The principal-agent problem of ownership vs. control of the corporation arises when owners and managers
A) are the same people. B) pursue objectives that differ from those their customers wish them to pursue. C) pursue objectives that differ from those their workers wish them to pursue. D) pursue objectives that differ from those the government wishes them to pursue. E) pursue different objectives.
If U.S. residents purchase $600 billion worth of foreign assets and foreigners purchase $300 billion worth of U.S. assets,
a. U.S. net capital outflow is $300 billion; capital is flowing into the U.S. b. U.S. net capital outflow is $300 billion; capital is flowing out of the U.S. c. U.S. net capital outflow is -$300 billion; capital is flowing into the U.S. d. U.S. net capital outflow is -$300 billion; capital is flowing out of the U.S.
In the negative income tax framework, a break-even point of $16,000 and a tax rate of 25 percent imply a guarantee of which of the following figures?
A. $4,000 B. $8,000 C. $12,000 D. $16,000