The Benazir Benefit income Scheme is a good example of ?
VAT is a good example of which kind of tax ?
Where a tax can be shifted the incidence depends on ?
Tax incidence is the ?
A progressive income tax means that those with a higher income pay ?
The marginal tax rate is ?
Vertical equity holds that ?
A Gini coefficient of zero means that the ?
Supply of land in a given use ?
The stock of knowledge, skills and talents that people possess is called ?
Unemployment benefits may increase the unemployment rate because unemployment benefits ?
If output price is constant, the marginal revenue product of labour curve will have the same shape as the ?
The marginal revenue product of labour is ?
New technology in the form of computer spreadsheets has increased the productivity of accountants. This will cause ?
As the wage rate per hour increases, the opportunity cost of leisure ?
Assuming that leisure is a normal good. if an individual’s labour supply curve is backward bending then the ?
Assuming leisure is a normal good, if the income effect is greater than the substitution effect a wage increase ?
Constrained choice is relevant for households ?
The greatest advantage of a negative income tax is that it ?
An increase in the minimum wage will cause a relatively large increase in unemployment among ?
Rawls’s suggestion that policy should be directed at maximizing the welfare of the least well off person in society is derived from ?
Rank utilitarianism liberalism, and libertarianism in sequence from the political philosophy that would redistribute income the greatest to the one that would redistribute income the least?
Mariam earns more than Seamus and she came by her income fairly and honestly which of the following political philosophies would argue against the redistribution of income from Mariam to Seamus ?
Because people’s income vary other the life cycle and because there are transitory shocks to people’s incomes the standard measures of income distribution ?
In Pakistan the term the poverty trap is used to describe the fact that ?
Housing Benefit is a good example of ?
An example of an indirect tax is ?
Tax shifting ?
A tax whose burden expressed as a percentage of income, falls as income increases is a ?
A tax whose burden is the same proportion of income for all households is ?
The total amount of tax you pay divided by your total income is the ?
Horizontal equity holds that ?
A Gini coefficient of one means that ?
The Gini coefficient is ?
The term ‘rent’ as it is used by economists. refers to ?
If labour market discrimination crowds women into a limited number of occupations so that the number of occupations available to men increases, then ?
An unemployed salesperson has been offered a job paying Rs500 a week. He turns that job down and continues to search for another job that pays more. The cost of this continued search is ?
The formula for the marginal revenue product of labour (L is for labour, X is the product) is ?
In a competitive labour market firms will hire labour up to the point where the marginal revenue product of labour equals ?
Differences in wages that result from differences in working conditions are known as ?
If the income effect is smaller than the substitution effect, higher net wages will ?
The substitution effect of higher wages suggests that as the wage rate increases ?
The idea that the demand for car workers stems from the demand for cars is ?
The poverty trap refers to ?
Current anti-poverty programs discourage work because ?
Rawls’s miximin criterion does not mean that there should be redistribution so as to equalise everyone’s incomes in society because ?
Utilitarianism suggests that the government should choose policies that maximize the total utility of everyone in society by ?
The maximin criterion suggested by Rawls’s theory of justice means that the government should aim to ?
If people can borrow and lend to perfectly smooth out their lifetime living standards, then ?
A period of unemployment due to recession will ?
Because in-kind transfers are not accounted for in standard measures of income distribution the standard measures of income distribution ?

Permanent income is ?

A. Social Security income of the elderly and disabled
B. none of these answers
C. wages fixed by a union or other labour contract
D. equal to the minimum wage
E. a person’s normal or average income

Correct Answer: E. a person’s normal or average income ✔

Last Updated: June 11, 2019