The EITC differs from other programs in that
A. it provides actual food.
B. it is administered by the Internal Revenue Service rather than a human services agency.
C. it is part of the Social Security system.
D. it is administered by the states rather than the Federal government.
Answer: B
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When consumers pay only a fraction of the true cost of medical services, their demand increases. The marginal cost of producing these extra services
A) is less than the marginal benefit consumers receive from them. B) is equal to the marginal benefit consumers receive from them. C) is greater than the marginal benefit consumers receive from them. D) is zero due to the insurance payments.
You are the manager of a nail salon you believe one of your suppliers is engaged in cartel activity. As the manager, you ________ an incentive to report the behavior because your nail salon can ________.
A) do not have; receive treble damages B) do not have; have to pay whistle-blower fees C) have; receive treble damages D) have; have to pay whistle -blower fees
When collective decision making is utilized to resolve economic questions regarding the allocation of resources,
a. decentralized decision making is inevitable. b. central planning and political bargaining will replace market forces. c. individual preferences are of no importance. d. economic equality will result.
If the multiplier is 4 and the desired increase in real GDP is $200 billion, the initial change in spending required to achieve that goal:
A. is $200 billion. B. is $800 billion. C. is $50 billion. D. cannot be determined.