The existence of government programs that provide in-kind transfers have ______.
a. more or less eliminated income inequality
b. probably caused income inequality estimates to be overstated
c. probably caused income inequality estimates to be understated
d. created greater amounts income inequality
b. probably caused income inequality estimates to be overstated
You might also like to view...
Suppose there is a reduction in consumer income and an increase in the price of jet fuel, an important resource used to produce air travel. If air travel is a normal good, how will these changes influence the price and quantity of air travel? The price of air travel will (be) ____ and quantity purchased will (be) ____
a. decrease; indeterminate b. increase; indeterminate c. decrease; decrease d. indeterminate; decrease
A local fast-food restaurant mails out coupons for a free sandwich to every home in the community. The opportunity cost of redeeming the sandwich for someone who was on a diet might be:
A. not eating because you are on a "get fit for the summer" diet plan. B. lost wages due to spending time in a long line instead of eating a Healthy Choice meal in your office. C. eating a "Tough Man's Burger," which is one of your favorite fast food options. D. There was no opportunity cost for the sandwich because it was free.
Refer to the information provided in Figure 15.6 below to answer the question(s) that follow.
Figure 15.6Refer to Figure 15.6. If Trollio's T-shirts is producing 50 silk-screened T-shirts and selling each T-shirt at $16, then in the long run this firm should
A. continue to produce 50 silk-screened T-shirts and sell each T-shirt for $16. B. exit the industry, as it is earning a zero economic profit. C. reduce output to try to increase profits. D. increase output to 60 silk-screened T-shirts.
The investment demand curve indicates that there is a(n):
A. positive relationship between the real interest rates and the level of investment spending, all other things equal. B. inverse relationship between the real interest rates and the level of investment spending, all other things equal. C. inverse relationship between the determinants of investment and the level of investment spending, holding interest rates constant. D. direct relationship between the real interest rates and the level of investment spending, all other things equal.