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Question 1 (1 point)
The poverty rate is the level of income for each family size, below which each family is considered to be in poverty.
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The negative income tax is designed to collect taxes from high income groups and distribute to lower income groups.
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False |
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The diminishing marginal product refers to the property whereby the marginal product of an input declines as the quantity if the input increases.
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: Capital refers to the money being used to purchase goods and services
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A compensating differential is a difference in wages that arises to offset the non-monetary characteristics of different jobs.
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