A "two-tier" labor market in the United States refers to plenty of jobs for ________ workers and few jobs for ________ workers.

In the negative income tax plan, a guarantee of $5,000 and a tax rate of 50 percent imply a break-even income of which of the following figures?

a. $1,000 b. $2,500 c. $10,000 d. $12,500

Amanda buys a ruby for $330 for which she was willing to pay $340. The minimum acceptable price to the seller, Tony, was $140. Tony experiences a

A. consumer surplus of $670 and Amanda experiences a producer surplus of $470. B. producer surplus of $190 and Amanda experiences a consumer surplus of $10. C. consumer surplus of $10 and Amanda experiences a producer surplus of $190. D. producer surplus of $470 and Amanda experiences a consumer surplus of $670.