Which statement is true? O The fewest number of people in the United States are in the middle class. O The least number of people in the United States are in the working class. O The greatest number of pcople in the United States are in the working class. The largest number of people in the United States are in the middle class.

Which statement is true? O The fewest number of people in the United States are in the middle class. O The least number of people in the United States are in the working class. O The greatest number of pcople in the United States are in the working class. The largest number of people in the United States are in the middle class.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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why minimum wage should not increase ? ( state youre answer by looking at economy as micro)
In an economy, U = the number of adults who are unemployed, E = the number of adults who are employed, and NLF = the number of adults not in the labor force. The labor force participation rate in the economy is equal to: O a. U/(U + E + NLF). O b. (U+ E)/(U +E+ NLF). c. E/(U + E + NLF). O d. U/(U + E). O e. E/(U + E). е.
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2. In the United States, two government programs that provide economic assistance to poor families are the Earned Income Tax Credit (EITC) and Temporary Assistance to Needy Families (TANF). According to economic theory, how do these programs affect the labor supply of eligible families? O Both programs increase labor force participation. O Both programs decrease labor force participation. O The EITC increases labor force participation, whereas TANF decreases labor force participation. O TANF increases labor force participation, whereas the EITC decreases labor force participation. O Among those who work, both programs increase hours of work.
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