Which of the following statements is correct?
a. A minimum wage law will result in less additional unemployment if labor demand is elastic rather than inelastic.
b. An in-kind transfer allows a person to use the benefit to purchase whatever they think they need most.
c. If a tax policy states that taxes owed equal 1/3 of income less $15,000 . a person earning $25,000 per year would owe $6,666.67 in taxes.
d. Welfare reform enacted in 1996 limited the amount of time recipients could stay on welfare.
d
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
Refer to the following graphs to answer the question below.
In which graph would the indicated shifts cause equilibrium quantity to definitely rise, but the effect on price is indeterminate?
A. graph (1) B. graph (2) C. graph (3) D. graph (4)
A ________ monopoly sells different units of its good or service for ________
A) price-discriminating; different prices B) price-discriminating; the same price C) single-price; the same price D) single-price; different prices E) Both Answers A and C are correct.
Members of IGA are advised by that organization to
A. hire less-qualified people to keep costs down. B. provide a level of service, community involvement, and types of goods Walmart does not. C. "out Walmart" Walmart by lowering prices. D. sell exactly the same goods Walmart does.