Over the years, there have been many programs designed to help the poor. One of the more popular ones has been the Earned Income Tax Credit (EITC). What makes this program so popular?
What will be an ideal response?
Unlike other programs, participants in EITC are working and contributing to society. The skills
and contacts made through working, helps in the efforts to keep these people from slipping
further into poverty.
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The GDP of Country X and Country Y were found to be equal in a particular year. However, the income per capita of Country X was higher than the income per capita of Country Y. This implies that ________
A) the population of Country X is higher than the population of Country Y B) the number of workers in country X is higher than the number of workers in Country Y C) the population of Country X is lower than the population of Country Y D) the number of workers in country X is lower than the number of workers in Country Y
What are three reasons people want to hold money balances?
What will be an ideal response?
This prisoner's dilemma game shows the payoffs associated with two firms, A and B, in an oligopoly and their choices to either collude with one another or not.
Given the situation in the matrix shown, we can predict that Firm A's profits will be:
A. $100 million. B. $200 million. C. $300 million. D. $50 million.
Figure 6.9 depicts a hypothetical fish market with a horizontal supply curve. Suppose the government imposes a tax of $2 per pound of fish, and the tax is paid in legal terms by producers. If the supply curve were positively sloped:
A. producers would bear the full cost of the tax. B. consumers would bear the full cost of the tax. C. both producers and consumers share the tax. D. There is not sufficient information.