Anti-poverty programs
a. encourage saving among recipient groups.
b. impose a very low marginal tax rate on income.
c. are only made available to those with no other source of income.
d. may discourage the poor from escaping poverty on their own.
d
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Developing countries that concentrate production in agricultural products or raw materials may face a secular decline in their international terms of trade due to
A) sluggish demand for these products in developed countries. B) large increases in the supplies of these products on world markets due to export expansion policies. C) inelastic demand for these products in developed countries. D) All of the above.
If the income elasticity of demand for a good is -2.5, then
a. it is a normal good, and its demand curve will shift to the left if buyers' incomes increase b. it is a normal good, and its demand curve will shift to the right if buyers' incomes increase c. it is an inferior good, and its demand curve will shift to the right if buyers' incomes increase d. it is an inferior good, and its demand curve will shift to the left if buyers' incomes increase e. there is insufficient information to determine whether the good is normal or inferior
Suppose the government imposes a 50-cent tax on the sellers of packets of chewing gum. The tax would
a. shift the supply curve upward by less than 50 cents. b. raise the equilibrium price by 50 cents. c. create a 50-cent tax burden each for buyers and sellers. d. discourage market activity.
Productivity tends to
A. fall during expansions. B. rise during expansions. C. rise throughout the business cycle. D. rise during contractions.