A negative income tax program is
a. based on government cash payments to the poor that are linked to their income levels
b. basically an income tax, meaning you receive what you earn then pay your taxes for the poor who don't pay tax
c. basically in-kind assistance
d. designed to provide a maximum level of income to the poor
e. based on cash payments that increase as income increases
A
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Which of the following is NOT normative economic statement?
A) The minimum wage should be eliminated so unemployment can be reduced. B) Increases in the minimum wage cause increases in unemployment. C) The inflation rate should fall to increase individuals' well being. D) Taxes on cigarettes should be increased to reduce smoking.
According to liquidity preference theory, a decrease in money demand for some reason other than a change in the price level causes
a. the interest rate to fall, so aggregate demand shifts right. b. the interest rate to fall, so aggregate demand shifts left. c. the interest rate to rise, so aggregate demand shifts right. d. the interest rate to rise, so aggregate demand shifts left.