Question

In: Economics

What causes the welfare trap under traditional welfare arrangements? a. Low income people cannot afford to...

What causes the welfare trap under traditional welfare arrangements?

a. Low income people cannot afford to acquire human capital

b. the break even income is too high to be reached

c. there are no jobs available in low income areas.

d. as earned market income increases, welfare benefits are withdrawn.

Which of the following statemets is true (correct)?

a. derived demand for labor depends on the demand for the prodct labor produces.

b. unions can either increase deamnd for, or decrease supply of labor.

c. Investment in human capital is expected to increase the demand for those workers

d. all of the above.

Which of the following statements is correct?

a. the distribution of wealth is not the best measure of true inequality

b. inequality using annual income overstates actual lifetime inequality

c. the inequality of annual incomes is less than the inequality of income

d. all the above are correct

Expert Solution

Q2. Option A. Is correct

A derived demand for labor depends on the demand for the product labor produces

The demand for one is dependent on that whose demand is its derived from.

For example if the demand for a good increases,then this leads to an increase in the demand for labor.

Q1

1.Option D. Is correct

As earned Market income increases welfare benefits are with drawn.

Theory of taxation and welfare system contribute to keep people on social assurance because the with drawal of means tested benefits that comes with entering low Paid work causes no significant increase in total income..

Q2.Option c. Is correct

Investment in human capital is expected to increase the demand for those workers

Derived demand for labor depends on the demand for the product labor produces.

Q2 Option D. Is correct.

Unions can neither increase demand for or decrease supply of labor.

Unions normally raise wages by restricting the supply of labor.

Q3 .option a.

Option b

Option c.

Option D..all the above are correct.

Rahul Sunny answered 2 years ago

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