Comparing the mobility of U.S. workers at the bottom of the income distribution to European workers in the same situation shows that U.S. workers are
a. more mobile in moving from lower to higher quintiles during their working lives
b. less mobile in moving from lower to higher quintiles during their working lives
c. paid more but remain at the bottom longer
d. paid less and remain at the bottom longer
e. more likely to leave their country (U.S.) to find work elsewhere
B
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John has a marginal benefit of $7 for 1 slice of pizza, $5 for a second slice, $3 for a third slice, $1 for a fourth slice, and $0.50 for a fifth slice. The price of pizza is $1.50 per slice. Which of the following statements is correct?
A) John will purchase 3 slices of pizza and have consumer surplus of $10.50. B) John will purchase 4 slices of pizza and have consumer surplus of $12.00. C) John will purchase 2 slices of pizza and have consumer surplus of $1.50. D) John will purchase 3 slices of pizza and have consumer surplus of $4.50. E) John will purchase 2 slices of pizza and have consumer surplus of $3.00.
Incentive-based regulatory approaches:
a. are viewed favorably by most economists as a way to control pollution. b. provide less flexibility than the command-and-control approach. c. tend to hurt wealthier people more than poor people. d. require that the government specify certain types of pollution control technology that firms must adopt.
The closer the economy is to full employment, the larger the multiplier is.
Answer the following statement true (T) or false (F)
The payroll tax for Social Security in the United States is
A. progressive. B. uniform. C. proportional. D. regressive.