Adam Smith argued that greater specialization and division of labor are likely to:
A. reduce worker productivity.
B. improve standards of living.
C. reduce standards of living.
D. replace workers with machines, resulting in massive unemployment.
Answer: B
Economics
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Financing government expenditure through deficits rather than through taxes will lead to higher spending if
A) it results in crowding in. B) it results in crowding out. C) people are more aware of taxes than they are of deficits. D) people are more aware of deficits than they are of taxes.
Economics
An example of an in-kind transfer to the poor is
a. the negative income tax. b. the Earned Income Tax Credit (EITC). c. Medicaid. d. Temporary Assistance for Needy Families (TANF).
Economics