In contrast to other antipoverty programs, a negative income tax
a. provides incentives to work
b. provides more assistance to children
c. assists the unemployed
d. provides direct in-kind transfers to the most needed
e. recognizes the existence of a culture of poverty
A
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A profit-maximizing firm will pay a worker:
A) the value of the worker's marginal product. B) the revenue that it earns by selling one unit of the product. C) less than the value of the worker's marginal product. D) more than the value of the average revenue of the firm.
Human capital is the
A) machinery used by humans to produce GDP. B) technology used by humans to produce GDP. C) skill and knowledge accumulated by humans. D) plant and equipment produced by humans and not by machines.
If the expected earnings of an investment project exceed all expenses except interest payments,
A) business firms will not undertake the project. B) business firms will undertake the project and raise prices later. C) business firms will not undertake the project but will borrow the funds. D) consumers will get lower prices.
In recent decades, countries with high economic growth have experienced _______ inequality, and those with low rates of growth have experienced __________ inequality.
A. increasing; decreasing B. increasing; increasing C. decreasing; increasing D. decreasing; decreasing