If people can borrow and lend to perfectly smooth out their lifetime living standards, then ?

Related Mcqs:

Current anti-poverty programs discourage work because ?

A. benefits are reduced at such a high rate when recipients earn more income that there is little or no incentive to work once one is receiving benefits. B. in order to be eligible for benefits a recipient cannot have a job C. they make recipients more comfortable than most middle-class citizens. D. anti-poverty programs … Current anti-poverty programs discourage work because ?Read More...

A Gini coefficient of one means that ?

A. all the income is received by the top 20% of the income distribution B. income is distributed equally C. the income is split equally between the top 20% and the rest of the distribution. D. one family has all the income and every one else has nothing....

Horizontal equity holds that ?

A. those with equal ability to pay should bear unequal tax burdends. B. those who benefits the most from government services should bear the higher tax burden. C. those who benefit the most from government services should have the greatest voice in determining what gets produced D. those with equal ability to pay should bear … Horizontal equity holds that ?Read More...

Assuming that leisure is a normal good. if an individual’s labour supply curve is backward bending then the ?

A. income effect is zero B. substitution effect outweighs the income effect C. income effect outweighs the substitution effect D. income effect and the substitution effects are equal...

If output price is constant, the marginal revenue product of labour curve will have the same shape as the ?

A. total variable cost curve B. marginal cost curve C. total product of labour curve D. marginal product of labour curve...