"Not all government programs benefit the relatively poor." Discuss this statement with examples
Though government programs are introduced to benefit the relatively poor, some programs tend to have unintended consequences, that helps the affluent class more than the low-income sections. For instance, support for public universities helps the middle or upper income groups more than the poor. Agricultural subsidies help farmers who already have an established business and a much larger income than poorer farmers.
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What is productive efficiency?
A) a situation in which firms produce as much as possible B) a situation in which resources are allocated such the last unit of output produced provides a marginal benefit to consumers equal to the marginal cost of producing it C) a situation in which resources are allocated such that goods can be produced at their lowest possible average cost D) a situation in which resources are allocated to their highest profit use
A firm that generates zero economic profit usually has
A) negative business profit. B) zero business profit. C) positive business profit. D) business profit equal to half the total revenue.