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2 years ago

Your textbook notes a new form of policy experiment that would provide everyone with a guaranteed income called.

1 answer:

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Your textbook notes a new form of policy experiment that would provide everyone with a guaranteed income called Universal Basic Income.

<h3>What is a Universal Basic Income (UBI)?</h3>

UBI is a government scheme in which every adult citizen receives a set amount of money on a regular basis.
A basic income system's aims are to reduce poverty and to replace existing need-based social programs that may require more bureaucratic engagement.
The concept of universal basic income has gained traction in the United States as automation replaces labor in manufacturing and other sectors of the economy.
A recent two-year experiment in Finland in which universal basic income essentially replaced unemployment benefits found that UBI users were no more likely than the control group to obtain new work.

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4 years ago

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3 years ago

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A local baseball team's concession stand sells hot dogs for $2 and earns $600 in revenue. The next week, the price is rasied to $3, and the concession stand still earns $600 in revenue. In this situation, the price elasticity of demand is <u>Unit elastic.</u>

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A situation in which a change in one variable causes an equally proportional change in another variable is referred to as unit elastic (also known as unitary elastic).

Goods that are affected by price changes in demand or supply are known as unit elastic goods. For instance, if banana costs fall, more individuals may choose to purchase them since they can now afford to do so given the lower pricing. This would be an illustration of unit elastic supply and demand.

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1 year ago

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