Suppose each family in the United States earned an equal money income. What would be the effect?  Explain the difference between poverty defined absolutely and poverty defined relatively. Which definition is the basis of the poverty line?

Which of the following statements is true?a. All people in poverty are on welfare. b. Unemployment compensation is an in-kind transfer. c. Temporary Assistance to Needy Families (TANF) is an example of a cash payment made by government to the impoverished. d. After cash assistance and in-kind transfers are considered, the distribution of income in

Which of the following statements is true? a. Discrimination against women and blacks reduces the demand for these workers, resulting in lower wages paid these workers. b. Discrimination is no longer a problem in the United States. c. A negative income tax system is a plan in which everyone pays the same percentage of their income

As shown in Exhibit 11, the perfect equality line isdrawn between points a. W and Y along the curve. b. X and Z. c. W and Y along the straight line. d. W and X.

Assume a regulatory agency is given authority overprices and entry conditions for a given industry. Also assume the agency decides to allow new entry, as the CAB actually did before deregulation, only when it is proven to be “necessary.” Would this condition be expected to favor (a) existing regulated firms, (b) new entrants, or (c)

Assume a natural monopolist is required to use marginal cost pricing and a government subsidy covers the loss. What problems might be associated with a public subsidy?

Do you agree that “cost does not really matter” as a principle for safety regulation, or do you believe that the cost of a safety device must be justified on the basis of the value of human life protected from a hazard?

The antitrust doctrine that the existence of monopoly alone is not illegal unless the monopoly engages in illegal business practices is called the ___________. T F The Robinson-Patman Act strengthened the merger provisions of the Clayton Act.

Suppose a firm offers quantity discounts or specialpromotional allowances only to favored distributors and the effect is to substantially lessen competition. This firm would be in violation of the a. Celler-Kefauver Act. b. Sherman Antitrust Act. c. Federal Trade Commission Act. d. Clayton Act. e. Robinson-Patman Act.

  Which antitrust act prohibits price fixing and other conspiracies and combinations that restrain trade and attempts to monopolize? a. Sherman Act of 1890 b. Clayton Act of 1914 c. Federal Trade Commission Act of 1914 d. Robinson-Patman Act of 1936 e. Celler-Kefauver Act of 1950 Q455: It is frequently said that people “vote with