Refer to Figure 34.3. The disincentive to work caused by this welfare program
A. Exists at all income levels.
B. Ends as soon as any income is earned.
C. Ends at $10,000.
D. Ends at $5,000 where benefits equal wages.
Answer: C
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Use the following graph to answer the next question.
The short-run supply curve for this perfectly competitive firm is the
A. segment of the MC curve lying at and to the right of quantity k. B. entire MC curve. C. segment of the MC curve lying at and to the right of quantity h. D. segment of the AVC curve lying to the right of the MC curve.
The above figure shows the U.S. market for 1 carat diamonds. Area A is the
A) increase in producer surplus due to the import quota. B) importers' profit from the import quota. C) decrease in consumer surplus due to the import quota. D) deadweight loss from the import quota. E) gain in total surplus due to the import quota.
Which U.S. President was in office for most of World War II?
a. Herbert Hoover b. Abraham Lincoln c. Franklin D. Roosevelt d. Lyndon Johnson e. Dwight Eisenhower
A movement upward and to the left along the money demand curve is caused by: a. an increase in the interest rate
b. a decrease in the interest rate. c. a decrease in real GDP. d. an increase in real GDP. e. an increase in the average price level.