When a person who receives welfare benefits earns income, those benefits are reduced as earned income rises. This is referred to as
a. an implicit marginal tax.
b. the opportunity cost of income.
c. the work-leisure trade-off.
d. reverse discrimination.
A
Economics
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A monopoly occurs when
A) each of many firms produces a product that is slightly different from that of the other firms. B) one firm sells a good that has no close substitutes and a barrier blocks entry for other firms. C) there are many firms producing the same product. D) a few firms control the market. E) one firm is larger than the many other firms that make an identical product.
Economics
Over one time horizon or another, Fed policy decisions influence
a. inflation and employment. b. inflation but not employment. c. employment but not inflation. d. neither inflation nor employment.
Economics