Question

In: Economics

One argument in favor of universal basic income (UBI) and theEarned Income Tax Credit (EITC)...

One argument in favor of universal basic income (UBI) and the Earned Income Tax Credit (EITC) over minimum wage legislation is that  

a. all of the answers are correct

b. none of the answers are correct since the minimum wage always increases total labor income

c. poverty is a social issue and society as a whole should bear the costs of its elimination

d. the disincentive (work-leisure) effects of the UBI and EITC is less than the disincentive (hiring) effects of the minimum wage

e. under Rawls' "Veil of Ignorance" a society is more likely to establish a system of UBI over minimum wage legislation

Solutions

Expert Solution

By reading this question and option here right option is C

because in question clearly asked (argument in favor of universal basic income (UBI) and the Earned Income Tax Credit (EITC) over minimum wage legislation) so option c is right rest of all option ie poverty is a social issue and society as a whole should bear the costs of its elimination

the purpose of introducing Universal basic income by the govenment is May help remove the "poverty trap" .and to reach equality among citizens

- It will help to reduce the income inequality in society

- people could afford to wait for a better job or better wages.

conclusion

poverty is a social issue and society as a whole should bear the costs , due this poor people get help by government for their better health , education and rise up from poverty line . as we looked the every year hunger index , globally many of children die and many of adult not finding jobs . thus we can conclude that Universal basic income is good step .


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