The welfare rolls in the United States shot up most dramatically during the period
A. 1945-1949.
B. 1960-1964.
C. 1980-1984.
D. 1990-1994.
D. 1990-1994.
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If psychological limitations and other complications cause people to be unable to examine and think through every possible choice available to them and rely instead on rules of thumb, then these individuals exhibit
A) unbounded rationality. B) normative thinking. C) bounded rationality. D) positive thinking.
Because the income tax structure is progressive, the amount of taxes paid is a _____
a. constant fraction of income throughout the business cycle b. larger fraction of income in expansions than in contractions c. smaller fraction of income in expansions than in contractions d. decreasing function of income in both expansions and contractions e. constant amount at all levels of output and income
For government, most market activity can be explained by the goal of:
A. Welfare maximization. B. Social responsibility. C. Utility maximization. D. Charitable responsibility.
The horizontal intercept of the budget line is:
A. M/PY. B. -PX/PY. C. M/PX. D. PYY.