A negative income tax system would provide all households, including the poor, with:
a. cash payments.
b. incentives to earn income.
c. higher income levels.
d. medical assistance.
e. lower tax bills than it does .
b
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When economists describe the theory of consumer choice, they
a. portray people as simple and methodical with perfectly predictable patterns of behavior. b. assert that consumer's decisions are based on which goods and services give them the greatest utility within their limited incomes. c. point out that consumers rarely consider utility in their purchase decisions; they look at other factors like convenience, peer behavior, and price. d. assert that the retail price is the only variable consumers really consider in making their purchasing decisions. e. admit that consumer behavior is random and there is no credible economic theory to explain the phenomenon.
Some economists argue that well-functioning capital markets that allow funds to move from those who have but do not need funds to those who need but do not have funds, are essential for rapid economic growth. Well-functioning capital markets are an example of:
A. entrepreneurship. B. growth-compatible institutions. C. physical capital. D. human capital.
An aggregate supply (AS) curve depicts the relationship between
What will be an ideal response?
Which would be included in the definition of the money supply? Currency and checkable deposits owned by:
A. the public. B. the Federal Reserve Banks. C. the U.S. Treasury. D. commercial banks.