Which of the following statements about the Earned Income Tax Credit Program (EITC) program is FALSE?
A) On net the EITC discourages work by low- or moderate- income earners more than it rewards work.
B) It provides rebates of Social Security taxes to low-income workers.
C) Recipients who receive benefit payments under Social Security are also eligible for SSI.
D) It is the largest poverty reduction program in the U.S..
Answer: C
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Economic growth is best measured by increases in
A) per capita real Gross Domestic Product (GDP). B) nominal personal income. C) nominal Gross Domestic Product (GDP). D) per capita nominal Gross Domestic Product (GDP).
In the second circular-flow model of Chapter 2, households have two uses for their total income:
A) consumption and investment. B) consumption and saving. C) saving and investment. D) saving and payment of taxes. E) consumption and payment of taxes.