Needed ASAP 72) The demand curve for high-skilled workers A) lies to the right o

Question

Needed ASAP

72) The demand curve for high-skilled workers A) lies to the right of the demand curve for low-skilled workers B) lies to the left of the demand curve for low-skilled workers C) is horizontal D) lies to the right of the demand curve for low-skilled workers at high wages and to the left of the demand curve for low-skilled workers at low wages. E) is vertical 73) The larger the value of the marginal product of a skill, the A) larger the vertical distance between the supply curves for high- and low-skilled labor B) higher is the wage rate at which the demand curve for high-skilled workers crosses the demand curve for low-skilled workers C) smaller the vertical difference between the demand curves for high- and low-skilled labor smaller the vertical distance between the supply curves for high-and low-skilled labor E) larger the vertic al difference between the demand curves for high- and low-skilled labor 74) Which of the following currently helps redistribute income in the United States? i. negative income tax ii. progressive income taxes ii. Social Security A) i and ii B) ii and iii C) i and ii D) i, ii, and iii E) ii only 75) Which of the following is(are) an example of an income maintenance program? i. unemployment compensation 1. welfare programs ii. social security programs A) ii and iii. C) i, ii, and iii D) i and ii. E) ii only 1 and 1i1. 76) Which of the following programs is designed to help households who have inadequate financial resources but are not elderly, disabled, or blind? A) Supplementary Security Income (SSI) B) Social Security C) Temporary Assistance for Needy Households (TANF) D) Food Stamp program E) Medicaid 77) Recent changes in the welfare program A) have made it an open-ended entitlement program B) have hurt economic incentives to work. C) limit assistance to five years. D) have made it into a negative income tax program. E) have eliminated work and public service requirements.

Explanation / Answer

1.Ans:- The demand curve for high skilled workers

a) lies to the right of the demand curve for low skilled workers.

As the high skilled worlers have the capability to fit in any kind of job, the marginal revenue product of these workers always exceed the low skilled workers. So the demand curve for high skilled labours lies to the right to the demand curve of low skilled labours.

2. Ans:-The larger the value of the marginal product of a skill, the

b) higher is the wage rate at which the demand curve for high skilled workers crosses the demand curve for low skilled workers.

3. Ans:- Social mechanisms which help redistribution of income in USA are

c) i and iii

i) negative taxation

iii) social security

redistribution of income in USA refers to the transfer of income from the wealthy indivituals by means of various taxation, confiscation, charity, welfare etc.

3. Ans:- Examples of income maintenance programmes are

c) i,ii and iii

i)unemployment compensation

ii) welfare programmes

iii) social security programmes

4.Ans:- programs which are desgined to help households who have inadequate financial resources but are not for elderly, disabled and bline are-

c) Temporary asistance for needy households,

d) food stamp program,

e) Medicaid

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