Which of the following is a disincentive to leave welfare?
a. decrease in real income
b. lower taxes
c. higher incomes
d. All of these.
a. decrease in real income
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Which of the following statements is the MOST accurate?
A) If PPP holds true, then the law of one price holds true for every commodity as long as the reference baskets used to reckon different countries' price levels are the same. B) If the law of one price holds true for every commodity, PPP must hold automatically. C) If the law of one price holds true for every commodity, PPP must automatically hold as long as the reference baskets used to reckon different countries' price levels are the same. D) If the law of one price does not hold true for every commodity, PPP cannot be true as long as the reference baskets used to reckon different countries' price levels are the same. E) If PPP holds true, then the law of one price must hold true automatically.
It is illegal for a business to price discriminate when selling goods to other businesses unless Both A & B are true
a. Price discounts are cost-justified b. Discounts are offered to meet competitors' price c. Either A or B is true d.
The main argument in favor of the existence of a natural rate of unemployment in the long run focuses on what argument?
A. Wages will always adjust to make the long-run unemployment rate zero percent. B. The government cannot affect inflation in the long run. C. Workers refuse to be unemployed in the long run. D. Workers will adjust their inflationary expectations in the long run so that unemployment is unrelated to inflation. E. Firms need to be at full employment in the long run.
Workers typically require higher wages in order to work additional hours because of the
A. Increasing opportunity cost of labor. B. Increasing marginal utility of income. C. Constant marginal utility of income. D. Decreasing value of leisure time forgone.