5 true false

microeconomics.docx

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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Question 2 (1 point)

The negative income tax is designed to collect taxes from high income groups and distribute to lower income groups.

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Question 3 (1 point)

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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Question 4 (1 point)

: Capital refers to the money being used to purchase goods and services

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Question 5 (1 point)

A compensating differential is a difference in wages that arises to offset the non-monetary characteristics of different jobs.

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	True
	False