Recall the Application about the effects of increasing state level Earned Income Tax Credit (EITC) on child health in the United States to answer the following question(s).Recall the Application. According to the study cited in the Application, a $100 increase in the value of the state EITC causes a decrease in the probability that a child is in fair or poor health by ________ percentage points.
A. 1.2
B. 7.6
C. 9.9
D. 0.5
Answer: A
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If diplomas work efficiently in signaling productive capabilities to employers, the resulting equilibrium
A) will be a separating equilibrium. B) will be a pooling equilibrium. C) will always be inefficient. D) will never be efficient.
Rebecca consumes both iced tea and coffee. Iced tea is priced at $1.50 per bottle and coffee at $2.00 per 16-ounce cup. Which of the following marginal utility pairs is consistent with Rebecca's consumer equilibrium at these prices?
a. MU of iced tea = 1; MU of coffee = 1 b. MU of iced tea = 1; MU of coffee = 2 c. MU of iced tea = 2; MU of coffee = 3 d. MU of iced tea = 3; MU of coffee = 4
If the price elasticity of supply equals zero, this implies that:
A. suppliers can easily change the quantity supplied of the product as the price of the product changes. B. the period under consideration is a very long-run time period. C. the supply curve is perfectly vertical. D. the percentage change in quantity supplied equals the percentage change in product price.
Governments are also affected by inflation. In which of the following ways is the government affected by inflation?
a. Expected inflation increases the real interest rate paid by the government on its new bond issues (i.e., deficit financing). b. Inflation increases nominal income tax revenues received by the government. c. Inflation automatically decreases government spending. d. All of the above are true. In other words, the government is affected by each one of them.