According to economic analysis, while making a decision, an individual compares the benefits expected from one option with the benefits expected from other options
a. True
b. False
Indicate whether the statement is true or false
True
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If a Lorenz curve moves leftward and becomes closer to the line of equality over time, then
A) the population is growing. B) income is growing. C) income is being more equally distributed. D) income is being more unequally distributed.
Which one of the following statements best describes a price ceiling?
a. A price ceiling causes demand to change. b. A price ceiling causes supply to change. c. A price ceiling keeps a price from rising above a certain level. d. A price ceiling keeps a price from falling below a certain level.
For which of the following programs can a person qualify solely by having a low income?
a. both Temporary Assistance for Needy Families (TANF) and Supplemental Security Income (SSI) b. Temporary Assistance for Needy Families (TANF) but not Supplemental Security Income (SSI) c. Supplemental Security Income (SSI) but not Temporary Assistance for Needy Families (TANF) d. neither Temporary Assistance for Needy Families (TANF) nor Supplemental Security Income (SSI)
In Figure 1.9, the slope of the line between points K and L is
A. 0.75. B. 1.25. C. 0.60. D. 0.80.