A clause in a debt contract requiring that the borrower purchase insurance against loss of the asset financed with the loan is called a

People on welfare often face the highest marginal tax rates of anyone because ______

a. of our regressive income tax system b. of the non-deducibility of state sales taxes c. of the loss of entitlement payments when earning additional income d. of increasing marginal utility of income

For an inferior good:

a. the income elasticity is positive. b. the income elasticity if negative. c. the income elasticity is zero. d. the income elasticity is unity.