Means-tested government programs tend to reduce saving. What are means-tested programs and how do they reduce saving?
Means-tested benefits give assistance, or more assistance, to those who can show need by way of lack of income. Those who save accumulate wealth and so are less likely to qualify for assistance. Consequently, the programs discourage saving.
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In year 1 the average price of X is $10, and in year 2 the average price of X is $23. If consumers buy more units of X in year 2 than in year 1, it follows that
A) the law of supply does not hold for good X. B) demand for good X could be higher in year 2 than in year 1. C) supply of good X could be less in year 2 than in year 1. D) good X buyers have received an increase in income between year 1 and year 2, and good X is a normal good. E) b and d
What should be added to national income to calculate GNP?
A. net factor payments to the rest of the world B. personal income taxes C. indirect taxes D. depreciation
The figure above shows the demand curve, marginal revenue curve, and marginal cost curve. The amount of consumer surplus when the market has a monopoly producer is
A) ace. B) abf. C) bcd. D) bcef. E) acd.
Measures of well-being include: a. pollution levels
b. infant mortality rates. c. literacy rates. d. all of the above.