In explaining their relative income status, either poor families don't work enough, or are paid too little
Indicate whether the statement is true or false
T
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The Federal Trade Commission was established in the 1930s under President Franklin D. Roosevelt
a. True b. False Indicate whether the statement is true or false
Suppose that alcohol consumption creates a negative externality. What can the government do to equate the equilibrium quantity of alcohol and the socially optimal quantity of alcohol?
a. impose a tax on alcohol that is equal to the per-unit externality b. offer a subsidy on alcohol that is equal to the per-unit externality c. impose a regulation limiting the amount of alcohol that each consumer can purchase d. nothing
Goods and services given to the poor such as food stamps, housing vouchers, and medical services are called
If net taxes are decreased by $500 billion, and the marginal propensity to consume is 0.80, then which of the following correctly describes the increase in real GDP that will be generated by the decrease in net taxes?
a. $2 trillion b. $1 trillion c. $500 billion d. $400 billion