Author Question: The income and substitution effects of a change in the wage rate a. always work in the same ... (Read 78 times)

TVarnum · **on:** Jun 30, 2018

The income and substitution effects of a change in the wage rate
a. always work in the same direction
b. always work in opposite directions
c. work in opposite directions only if the change is a decrease
d. work in the same direction only if the change is an increase
e. work in the same direction only if the change is a decrease

Question 2

Which of the following accounts for approximately three-fourths of all welfare spending?
a. the school lunch program
b. the earned income tax credit
c. unemployment compensation and workers' compensation combined
d. in-kind transfers
e. cash transfers