Aid to Families with Dependent Children was a government program with the goal of:
A. redistribution.
B. social insurance.
C. economic growth.
D. None of these is true.
A. redistribution.
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Net utility is
A. equal to total utility from the quantity acquired of a good minus the utility lost by having to pay for it. B. equal to the sum of the marginal utilities. C. equal to an optimal number easily calculated by the consumer. D. always greater than total utility.
One issue with using lifetime earnings as a proxy for human life is that it treats upper-income jobs and hence individuals in those jobs as more valuable than lower-income individuals.
Answer the following statement true (T) or false (F)
In their pure forms, laissez-faire economies and command economies do not exist in the world.
Answer the following statement true (T) or false (F)
Refer to Scenario 7.5 below to answer the question(s) that follow.SCENARIO 7.5: You own and are the only employee of a company that customizes bicycles. Last year your total revenue was $60,000. Your costs for rent and supplies were $25,000. To start this business you invested an amount of your own capital that could pay you a $45,000 a year return.Refer to Scenario 7.5. Your accounting profit last year was
A. -$10,000. B. $15,000. C. $35,000. D. $60,000.