Which of the following statements is correct?
a. A disadvantage of a minimum-wage law is that it may benefit unskilled workers who are not low-income workers.
b. A disadvantage of a negative income tax program is that a poor person who chooses not to work many hours would receive a cash benefit.
c. A disadvantage of an Earned Income Tax Credit (EITC) is that a person who is unable to work due to a disability does not benefit from the program.
d. All of the above are correct.
d
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The assumption that wages change more slowly than prices provides an argument for the
A) aggregate demand curve having a positive slope. B) aggregate demand curve having a negative slope. C) aggregate supply having a negative slope. D) aggregate supply having a positive slope.
Management needs more _________ who participate in community action programs and families, contribute to scientific, social or economic advances and improve human lives
a. Followers b. Leaders c. Social workers d. Muckrakers
The distribution of income
a. is about the same in most countries b. tends to be more equal in developing countries than in developed countries c. is more concentrated in the United States than in Canada or Japan d. is more even in developing countries than in the Russia e. is not related to a country's level of development
Suppose there are two economies that are identical in every way with the following exception. Economy A has an unemployment compensation system while economy B does NOT have an unemployment compensation system. Now suppose both economies experience the same drop in planned investment. Which of the following is correct?
A. Real GDP will fall more in economy A than in economy B. B. Real GDP will fall the same in both economies. C. Real GDP will fall more in economy B than in economy A. D. The effect on the relative size of the reduction in real GDP in the two economies is ambiguous.