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Tax rates for middle income earners

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Econ: true or false questions

A3-1. The government recently increased the child benefit. This benefit sends cash to households with children regardless of how much they work. This benefit will make households who receive it better off and have no effect on labour supply.

A3-2. The government recently decreased tax rates for middle income earners (effectively increasing the after-tax wage for these households). We can be sure that the change will increase labour supply for these households.

A3-3. If the marginal product of labour is diminishing over some range of labour input, the short-run marginal cost of production is increasing over the range of output produced by this labour.

A3-4. The short-run marginal cost curve passes through the minimum point of the short-run average total cost curve.

Reference no: EM131273609

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