What do economists call the factor payments that go to capital?
a. wages
b. rent
c. interest
d. deposits
c. interest
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Helen is a 19-year-old single mother of two. She has no car and works at a minimum wage job. She receives some assistance from the government, but every time she earns $1, she loses $1 in government assistance. Helen is caught in the poverty trap, which means that:
a. she is taxed at the higher poverty-line rate. b. making more money does not lead to having more money. c. because she accepts government assistance, she is getting lazier. d. unless she continues to work, her children will go into foster care.
The second-order condition for a monopoly maximizing its profit is:
A. (dMR/dQ) < (dMC/dQ). B. (d2R(Q)/dQ2) ? (d2C(Q)/dQ2) < 0. C. (d2R(Q)/dQ2) ? (d2C(Q)/dQ2) < 0 or (dMR/dQ) < (dMC/dQ). D. (d2R(Q)/dQ2) ? (d2C(Q)/dQ2) = 0.
Inflation accounting for the debt argues which of the following?
A. The change in the value of the debt when inflation occurs complicates income tax codes and is the reason for the tax changes of 2003. B. The portion of interest payments that compensate lenders for inflation should be considered repayment of debt rather than interest expense. C. The debt represents an inflationary problem, and grows more rapidly when people fear inflation. D. The portion of the deficit dedicated to repayment of interest on the debt should not be considered part of the deficit, because it is a transfer.
The WTO allows trade protection to protect endangered species
Indicate whether the statement is true or false