Indexing Social Security payments:
A. still requires a concerted effort on the part of Congress to convert them to their nominal amounts.
B. still requires a concerted effort on the part of Congress to vote the amount of increase.
C. no longer requires a concerted effort on the part of Congress to maintain their real value.
D. no longer requires a concerted effort on the part of Congress to maintain their nominal value.
Answer: C
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The demand for loanable funds comes from:
A. investment. B. savings. C. the government printing money. D. households spending on nondurable goods.
Which of the following demonstrates the law of supply? a. When leather became more expensive, belt producers decreased their supply of belts
b. When car production technology improved, car producers increased their supply of cars. c. When sweater producers expected sweater prices to rise in the near future, they decreased their current supply of sweaters. d. When lemon prices rose, lemon growers increased their quantity supplied of lemons.
Hanak Products, a perfectly competitive firm, is experiencing profitability. Given this information, what will Hanak Products do?
a. In the short run, the firm will improve product quality. b. In the long run, the firm will create quality controls. c. In the short run, the firm will reduce its staff size. d. In the long run, the firm will increase production.
When equilibrium GDP is below potential GDP, jobs are plentiful and unemployment is low
a. True b. False Indicate whether the statement is true or false