1. the purpose of the Earned income tax credit program is to a. encourage low an
ID: 1176431 • Letter: 1
Question
1. the purpose of the Earned income tax credit program is to
a. encourage low and moderate income workers to take second jobs to increase their income
b. give tax credits to low income individuals who do volunteer work in their communities
c. provide in kind services such as food stamps and public housing to those individual who have poor credit
d. provide rebates of social security taxes to low income workers
2. in the absence of discrimination, as human capital investment increase, wages will generally
a. not change
b. increase or decrease
c. decrease
d. increase
3. if labor is 80 percent of total cost in industry A and 20 percent in industry B, then other things equal , we would expect the elasticity of demand for labot to be
a. greater in industry A than in b
b. the same in both
c. uncertain since no general realationship exisit between cost shares and the elasticities
d.greater in industry B than in A
4. The contributive standard (merit standard) for distributing income implies that
a. income shoudl be distributed equally
b. a transfer should be contributed to an individual above his or her contribution to net output
c. income shoud be distributed according to the marginal productivity of workers
d. income shoud be distributed according to need
5. An important contributior to rising us health care cost in reent years is
a. the increasing propotrion of the population that smokes
b. the aging of the population
c. an easing of standards at medical schools that have permitted unqualified people to beome phyicians
d. less interest on the part of american to stay physically fit
6. In the US, Income is distributed according to
a. the equalitarian standard only
b. a combination of the productivity standard and the needs standard
c. the productivity standar only
d. the needs standard only
7. the egalitarian principle of income refers to
a. each person being paid differently
b. each person working the same number of hours
c. each person reciving tax breaks
d. each person receiving the same income
Explanation / Answer
1]b. give tax credits to low income individuals who do volunteer work in their communities
2]c. decrease
3]a. greater in industry A than in b
4]b. a transfer should be contributed to an individual above his or her contribution to net output
5]d. less interest on the part of american to stay physically fit
6]b. a combination of the productivity standard and the needs standard
7]c. each person reciving tax breaks
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.