One existing government program that works much like a negative income tax is the Earned Income Tax Credit
a. True
b. False
Indicate whether the statement is true or false
True
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The benefit of an activity is
A) the gain or pleasure that it brings. B) not measurable on the margin. C) purely objective and measured in dollars. D) the value of its opportunity cost. E) measured by what must be given up to get one more unit of the activity.
What are the sources of private investments in foreign nations?
What will be an ideal response?
If the country wanted to produce the maximum total number of units of guns and butter combined, it would produce at point(s) ________________.
In the long run, a perfectly competitive market will
A) produce only the quantity of output that yields a long-run profit for the typical firm. B) supply whatever amount consumers will buy at a price which earns the market an economic profit. C) supply whatever amount consumers demand at a price determined by the minimum point on the typical firm's average total cost curve. D) generate a long-run equilibrium where the typical firm operates at a loss.