A program under which the government gives all citizens a substantial lump sum payment that is financed by a tax earned income is termed a(n):
A. unearned income tax credit.
B. in-kind transfer.
C. positive income tax.
D. negative income tax.
Answer: D
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In 1995 ________, which was established in 1948, was replaced by ________
A) NAFTA; the Smoot-Hawley Tariff B) the WTO; NAFTA C) the GATT; the WTO D) the Smoot-Hawley Tariff; the GATT
What is pricing to market? Where is it most prevalent?
What will be an ideal response?
Suppose that during the last five years the rate of inflation was 3 percent each year and the money supply had grown 6 percent annually during the period. However, during the last nine months, the Fed has expanded bank reserves more rapidly and the money supply has been growing at a 12 percent annual rate. As a result, the expected inflation rate for the next period will be
a. higher than 3 percent under the rational expectations hypothesis. b. 3 percent under the adaptive expectations hypothesis. c. higher than 3 percent under both the adaptive and rational expectations hypotheses. d. both a and b.
Which of the following is not a public good?
A. A coastal lighthouse B. National defense C. A flood-control levee D. The latest Walt Disney movie