How does the government carry out income redistribution?
What will be an ideal response?
Income redistribution can be carried out by a combination of progressive taxation and transfer payments. Transfer payments are money payments made by the government to people for which no goods or services are rendered. Transfers can also be "in-kind," that is, in the form of a good or service.
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The three elements of a game are:
A. the costs, the revenue, and the profit. B. the firm, the consumers, and the profit. C. the players, the strategies, and the payoffs. D. the model, the graph, and the costs.
What is an informational cascade?
A) An excess flow of market information that makes it difficult for an investor to form a rational decision. B) A continual decline in the quality of market information from public sources due to sequential budget cuts. C) A continual increase in the quality of market information from public sources due to broader use of the internet by market participants. D) A sequence of decisions based on the actions of others rather than fundamental information.
In the labor negotiation game:
a. The payoffs are always higher if you accommodate b. The payoffs are always higher if your opponent accommodates c. The payoffs from accommodating are only higher if your opponent bargains hard d. The payoffs from accommodating are only higher if your opponent accommodates
If resource prices are fixed and the selling price rises, then
A. profits will decrease. B. profits will increase. C. profits will remain constant. D. both profits and output will decrease.