Which of the following is not a source of income inequality?
A. Inherited wealth
B. Differences in ability
C. Negative income taxes
D. Luck
Answer: C
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Rent-seeking is:
A. illegal. B. a reason that the deadweight loss from a monopoly could be just a small fraction of the actual loss caused by monopoly power. C. the process for that profit-maximizing monopolies use to determine optimal product quality. D. another term for advertising.
Credit risk reflects:
a. A company's expected performance, level of solvency, and potential inability to service its debts. b. A company's ability to get "credit for its performance" in the stock market, which means having its share price rise at the same rate or faster than profitability. c. The variability of cash flows for the national government. d. All of the above.
Suppose consumers save 17 percent of their incomes. If the government collects 10 dollar in taxes from each taxpayer and invested it in infrastructure, total social investment will ________ per taxpayer.
A. increase by $10.17 B. increase by $8.30 C. decrease by $1.70 D. decrease by $8.30
A demand curve for a Giffen good would be
A) upward sloping. B) downward sloping. C) horizontal. D) vertical.