Which of the following programs to alleviate poverty would be most favored by philosopher Robert Nozick and why?
a. A negative income tax because it would maximize the minimum income of members of society.
b. An Earned Income Tax Credit (EITC) because a policy that rewards the working poor would be the most just.
c. An in-kind transfer program because it would maximize the total utility of all members of society.
d. None of the programs would be favored because each of them forcibly redistributes income that was fairly, if not equally, earned.
d
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In the United States, the emergence of the third-party payment system has:
A. led health care costs to increase over time. B. had almost no impact on health care costs. C. led people to consume less than the socially optimal level of health care. D. led health care costs to decrease over time.
A firm faces a small number of competitors. This firm is competing in
A) a monopoly. B) monopolistic competition. C) an oligopoly. D) perfect competition. E) a perfect multi-firm monopoly.
The monetary base does NOT include
A) currency. B) reserves of depository institutions. C) checking accounts at commercial banks. D) commercial banks' reserves.
What is the role of nongovernmental organizations in promoting labor standards?
a. They have no enforcement power, but they can investigate and bring attention to and put pressure on firms, governments, and other groups to effect change. b. Because they are nongovernmental, they have no power. c. They can change laws for labor in many situations. d. Because they are part of the United Nations, they often report their findings and cause major policy changes.