The phase out of the subsidies for the purchase of health insurance will increase the implicit marginal tax rate on earnings for which of the following groups?
a. The elderly.
b. Individuals and families with incomes between 133 percent and 400 percent of the poverty level.
c. Individuals and families with incomes of more than 400 percent of the poverty level.
d. All workers employed by firms with fewer than 50 full-time employees.
B
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A quantity less than the equilibrium quantity in a competitive market is inefficient because
A) the marginal benefit of another unit is greater than its marginal cost. B) too much of the good is being produced. C) the marginal cost of another unit is greater than its marginal benefit. D) the marginal benefit of another unit is not equal to zero. E) the marginal benefit is not maximized.
Net present value and internal rate of return capital budgeting decisions can differ because
A) the initial costs of the capital outlays differ. B) the cash flow streams differ. C) the discount rates differ for different time periods. D) All of the above
The formula for labor productivity is given by
a. employment / output. b. output / population. c. output / employment. d. population / output. e. output / number of firms.
The concept of consumer sovereignty refers to situations in which consumers are represented on the board of directors of large corporations.
Answer the following statement true (T) or false (F)