Which statement about the earned income tax credit is true?
a. Tax break amounts increase with the amount of income earned, up to a point.
b. Tax break amounts decrease gradually with the amount of income earned.
c. Tax break amounts are determined by the number and age of children in a family.
d. Tax breaks are allowed for a maximum of five years.
a. Tax break amounts increase with the amount of income earned, up to a point.
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A positive statement is:
a. something good or desirable. b. a call for improvement. c. a statement of opinion. d. a statement testable by facts. e. a suggestion for policy.
A distinguishing feature of an oligopolistic industry is the tension between
a. profit maximization and cost minimization. b. cooperation and self interest. c. producing a small amount of output and charging a price above marginal cost. d. short-run decisions and long-run decisions.
If the elasticity of labor supply is positive, the labor-supply curve would be
A. vertical. B. horizontal. C. downward sloping. D. upward sloping.
Franklin D. Roosevelt pointed out that the New Deal was a series of experiments and that one could learn the good and bad from trying. His leadership reveals:
A. distribution awareness. B. commitment. C. flexibility. D. clever marketing.