Redistribution Programs Are Means-Tested

question 53

Multiple Choice

Redistribution programs are means-tested.To qualify for such a program,a person must demonstrate that:

• A)his or her family is larger than the mean family size for the country as a whole.
• B)his or her average (or mean)family income has fallen (or not gone up)during the past three years.
• C)though unemployed,he or she is making serious efforts to get a job.
• D)his or her income (or means)is below a certain specified level.

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Definitions:

Profit Maximization

The process or strategy aimed at achieving the highest possible profits within a business operation.

Economic Resources

Assets or inputs used for the production of goods and services, typically categorized into land, labor, capital, and entrepreneurship.

Marginal Product

Marginal product is the additional output generated by using one more unit of a particular input while keeping other inputs constant.

Marginal Revenue Product

The additional revenue generated from employing one more unit of a resource, all other factors being constant.