Although economists generally favor a negative income tax, there is little political support for it
a. True
b. False
Indicate whether the statement is true or false
True
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The winner of a second-price sealed-bid auction pays an amount equal to ________
A) half of his bid B) the lowest bid C) the second-highest bid D) his valuation of the good
Sizeable budget deficits can be expected in the years ahead because
a. the retirement of the baby boom generation will soon begin to push expenditures on both Social Security and Medicare upward. b. the political incentive structure encourages politicians to spend more revenue than they are willing to tax. c. both a and b are true. d. both a and b are false. Budget surpluses can be expected in the years ahead.
Supplemental Security Income (SSI) is a type of
a. in-kind transfer. b. minimum wage law. c. private charity. d. welfare payment.
If effective, a government-set price ceiling will lower equilibrium price and quantity in a market.
Answer the following statement true (T) or false (F)