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Question 10 optio… Show more Question 10 One problem with

Paper help Economics Question 10 optio… Show more Question 10 One problem with

Economics

Question 10 optio… Show more Question 10 One problem with

Question 10 optio… Show more Question 10 One problem with third-party financing of health care is that Question 10 options: it discourages people from relying on their physicians’ advice in making health care decisions. it reduces the quality of health care people receive. people have more incentive to utilize health care. demand falls so that suppliers cannot take advantage of economies of scale. Question 11 Suppose it is observed that an individual is not earning their marginal value product. Most likely this is due to Question 11 options: the age of the individual. discrimination. imperfect information making it difficult to know an individual’s marginal value product. the inability of marginal product theory to explain the pattern of earnings in the economy. Question 12 When computing the rate of return from going to school all of the following should be included EXCEPT Question 12 options: the amount spent on underwear. the benefit the student gained from improving culturally. books and tuition. the difference between what the student could have earned if they had not gone to school minus the amount made at part time jobs, grants and scholarships Question 13 Karl Marx stated Question 13 options: that people should be compensated on the basis of their need. that people should be compensated on the basis of what they produce. that everyone should have exactly the same income. that the age-earnings cycle should determine income. Question 14 One reason earnings tend to fall before retirement age is that Question 14 options: firms discriminate against older workers. people tend to reduce the number of hours they work after age 50. people are retiring earlier. the experience of people is no longer valuable after they are 50 or 55. Question 15 (0.25 points) The amount of money that a person receives from social security Question 15 options: is not related to the amount that they have contributed. depends entirely on the amount received from private pensions. is a yearly proportion of the amount contributed. is the same for everyone whether they contributed to the system or not. Question 16 Jane manages the accounting office for a major hospital. Jim manages the accounting office for Ajax Corporation. Jane and Jim have similar experience, education and are the same age. Both put in 40 hour weeks and are equally suited for the other’s job. Jim makes $20,000 more a year than Jane does. This difference in pay violates Question 16 options: OASDI. the comparable-worth doctrine. the Lorenz principle. the distributive principle. Question 17 The richest 10 percent of U.S. houses hold more than two-thirds of all wealth. The problem with this statement is that Question 17 options: it is based entirely on nonhuman wealth. it does not consider private and public pension plans. it is based entirely on human wealth. it does not consider an individual’s current income. Question 18 Which program provides assistance to the aged, blind and disabled? Question 18 options: Social Security Program AFDC Earned Income Tax Credit Supplemental Security Income program Question 19 In an attempt to reduce poverty rates there has recently been a movement away from income maintenance programs to Question 19 options: reducing the age a person can retire at. encouraging people to get jobs. Supplemental Security Income programs. incorporating the Lorenz policy in decisions. Question 20 The government program that provides aid to families in need is Question 20 options: TANIF. Supplemental Security Income program. Social Security program. Earned Income Tax Credit. • Show less

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