Between 1960 and 1995, Social Security benefits:
A. increased, which increased the poverty rate among the elderly.
B. decreased, helping reduce the poverty rate among the elderly.
C. increased, helping reduce the poverty rate among the elderly.
D. decreased, which increased the poverty rate among the elderly.
C. increased, helping reduce the poverty rate among the elderly.
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Among those who became permanent legal residents of the U.S. in 2011, about how many were family sponsored?
A. 65% B. 40% C. 33% D. 25%
When a monopsony hires an additional worker, it must pay the new worker's wages and it bids up the wages of all workers. This fact implies that the monopsony's
a. marginal labor cost is greater than the wage rate. b. demand curve for labor is perfectly elastic at the going market wage. c. marginal revenue product of labor is equal to the wage rate. d. labor usage is greater than that of a firm that is competitive in the labor market.
If in some range of production average cost is falling, the firm is experiencing
a. increasing returns to scale. b. decreasing returns to scale. c. constant returns to scale. d. increasing costs per unit of output.
If we accept the principle of “caveat emptor” - “let the buyer beware,” why then is there concern about the ethics of advertising. If the consumer is responsible to make the decision, is there anything to justify restricting the advertiser? Explain your view.
What will be an ideal response?