Which of the following statements is not correct?
a. An advantage of an in-kind transfer is that it prevents an alcoholic from spending a cash benefit on alcohol.
b. An advantage of the Supplemental Security Income (SSI) program is that it benefits the sick and disabled.
c. An advantage of a negative income tax program is that the poor must work to be eligible.
d. Minimum wage laws result in higher unemployment among those groups of workers affected by the minimum wage.
c
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Compared to the 1960s, during most of the 1990s average annual real GDP growth was ________ while the average ratio of net investment to output was ________
A) slightly lower, much lower B) much lower, slightly higher C) much higher, much lower D) slightly higher, slightly lower
Economists typically assume that the owners of firms wish to
A) produce efficiently. B) maximize sales revenues. C) maximize profits. D) All of the above.
The gross domestic product (GDP) excludes: a. the value of a new building
b. the value of new stocks and shares. c. the cost of a new vending machine. d. government expenditure on a new bridge. e. the money spent on the purchase of legal services by a household.
Mutual interdependence applies to actions of
a. monopolistic competitors b. oligopolists c. perfect competitors d. monopolists and oligopolists e. only oligopolist firms operating in different industries