Which of the following are not counted when we compare a family's income to the poverty line?
a. In-kind transfers such as food stamps, Medicaid, and public housing.
b. Cash welfare payments such as from social security.
c. Cash payments when a worker becomes unemployed.
d. Both a. and b. above are correct.
a
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Proportional income taxation is distorting because
A) people do all they can to avoid paying taxes. B) the competitive equilibrium is not Pareto optimal. C) firms do all they can to avoid paying taxes. D) the government budget constraint does not hold.
If a firm produces 20 units of output and incurs a total cost of $1,000 and a variable cost is $700, calculate the firm's average fixed cost of production if it expands output to 25 units
A) $300 B) $15 C) $12 D) It is impossible to determine without additional information.
A firm should cut back on investing if
A. the MRPK is less than the price of capital. B. the MRPK is equal to zero. C. the MRPK is greater than the price of capital. D. the MRPK is equal to the price of capital.
The American Recovery and Reinvestment Act of 2009 is a clear example of:
A. Nondiscretionary fiscal policy that made the cyclically-adjusted budget become more positive B. Nondiscretionary fiscal policy that made the cyclically-adjusted budget become more negative C. Discretionary fiscal policy that made the cyclically-adjusted budget become more positive D. Discretionary fiscal policy that made the cyclically-adjusted budget become more negative