Which of the following statements about the Earned Income Tax Credit Program (EITC) program is FALSE?
A) On net the EITC discourages work by low- or moderate- income earners more than it rewards work.
B) It provides rebates of Social Security taxes to low-income workers.
C) Recipients who receive benefit payments under Social Security are also eligible for SSI.
D) It is the largest poverty reduction program in the U.S..
C
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The ________ the nominal interest rate, the ________ is the quantity of money demanded
A) lower; greater B) higher; greater C) more variable; smaller D) lower; smaller E) None of the above because the nominal interest rate does not influence the quantity of money demanded.
Suppose the consumer's income increases while the prices of the goods remain constant. Then the
A) budget constraint shifts outward parallel to the original budget constraint. B) indifference curves become flatter. C) budget constraint shifts inward parallel to the original budget constraint. D) indifference curves shift outward away from the origin.
Voluntary exchanges generate:
A. deadweight loss, leaving at least one participant worse off than they were before. B. a transfer of surplus from one participant to another. C. deadweight loss, leaving both participants worse off than they were before. D. surplus, leaving both participants better off than they were before.
If an economy experiences constant opportunity costs with respect to two goods, then the production possibilities curve between the two goods will be?
A. A straight, downward-sloping line. B. Bowed outward or concave from below. C. Bowed inward or convex from below. D. Bowed outward until the two goods are equal, and then bowed inward.