The most effective redistribution programs provide assistance to the hard core poor and transitory assistance to the marginal poor without _____
a. creating dependency on welfare payments
b. costing taxpayers too much
c. changing the behavior of individuals
d. a and c
a
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A private cost is a cost of production that is
A) borne by the producer of a good. B) measured in marginal terms. C) borne by someone other than the producer of a good. D) measured in total terms.
A company is considering the purchase or the rental of a new machine. An increase in the interest rate
A) increases the likelihood the company will buy the machine. B) increases the likelihood the company will rent the machine. C) has no effect on the likelihood that the company will buy the machine. D) has no effect on the likelihood that the company will rent the machine.
According to the case for analysis (Demand and Supply in the Copper Industry) in the text, all of the following can lead to a decline in the price of copper except:
A) steady production uninterrupted by labor strikes or natural disasters. B) substitution away from copper to other materials such as aluminum and plastic. C) an increase in mining of higher grade materials. D) a surge in demand from foreign importers.
Which of the following statements is true concerning the consumption function?
a. It slopes upward. b. Its slope equals the MPC. c. It represents the direct (positive) relationship between consumption spending and the level of real disposable income. d. If the consumption function lies above the 45-degree line then saving is positive. e. All of these.