(35 points) The attached article describes an experimental basic-income program in Stockton, California (located about an hour south of Sacramento and east of San Francisco), where low-income individuals receive a monthly $500 income assistance with no restrictions on how the money is spent: The program is highly unusual in that the $500 has “no strings” attached — it is not tied to work decisions, how the money is spent, and the like. Each of the parts to this problems (below) require you to connect our labor-leisure model (using some graphs, no math!) to the experimental program described in the […]
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