Means-tested welfare benefits provide recipients with a strong incentive to:
A. work.
B. leave welfare.
C. accurately disclose their earnings.
D. underreport their earnings.
Answer: D
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Use the following table to answer the question below.Price per UnitQuantity Demanded per YearQuantity Supplied per Year$52,0000101,800300151,600600201,400900251,2001,200301,0001,500In this competitive market, the price and quantity will settle at
A. $25 and 1,200 units. B. $10 and 1,800 units. C. $20 and 900 units. D. $15 and 1,600 units.
If workers expect inflation, and tend to overestimate actual inflation when they negotiate wage increases, the result will be a continuing
a. shift of AD to the left. b. shift of AD to the right. c. recessionary gap. d. inflationary gap.
Which of the following is not an example of rent seeking?
A. A firm uses resources to convince a legislature to direct subsidies toward the firm. B. A mastermind hires a crew to tunnel into a bank vault. C. A person listens to an outdoor concert without paying. D. A window salesman throws bricks through perfectly fine windows.
What is meant by scientific method?
What will be an ideal response?