An income distribution may not give an accurate picture of the standard of living for the poor because it does not include in-kind transfers

The labor market is composed of

a. a relatively homogeneous supply of labor and downward-sloping demand curve. b. a vertical supply curve for labor and relatively elastic market demand. c. many submarkets for labor of different types. d. more teenagers than any other age group of labor.

A subsidy to buyers has been placed in the market in the graph shown. Why might the government enact such a policy?

A. As a way to encourage consumers to substitute away from the good B. As a way to discourage the production of the good C. As a way to encourage the consumption of the good D. As a way to discourage the consumption of the good