In a negative income tax program, the higher the income earned, the higher will be the family's after-tax income
Indicate whether the statement is true or false
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What happens to your purchasing power if inflation is less than you anticipated?
A) It decreases. B) It won't change much. C) It increases. D) It devalues your net worth.
Suppose there are only two goods – Food (F) and Shelter (S). The demand equations for these two goods depend on their prices, pF and pS as follows:
DF (pF, pS) = 10 – 2pF – pS DS (pF, pS) = 10 – pF – 2pS The supply curves depend only on their own prices: SF (pF) = pF SS (pS) = 5pS Determine the equilibrium price and quantity of these goods.
The economic system in which the basic economic questions are answered through markets with some government intervention is a:
a. command economy. b. mixed economy. c. market economy. d. planned economy.
In 2003, which of the following currencies was used in Iraq?
a. Swiss dinar b. Saddam (or print) dinar c. American dinar d. Swiss dinar and Sad dam (or print) dinar