A major difference between social insurance and welfare is that social insurance:
A. exclusively involves older Americans whereas welfare is confined mainly to mothers with
young children.
B. forces recipients to demonstrate need while welfare does not.
C. is normally financed by earmarked payroll taxes while welfare is financed out of general tax
revenues.
D. provides cash transfers while welfare does not.
Answer: C
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If the wage falls, we know for sure that the firm will produce more in the long run but we cannot be sure whether it will use more or less capital.
Answer the following statement true (T) or false (F)
Collusion is easier to achieve and maintain in oligopoly when
a. there are many firms in the industry b. the firms' products are homogeneous c. the firms' cost structures are very different d. there are very weak barriers to entry e. the industry is located in the United States
We know that industrial countries tend to trade with other industrial countries. This pattern counters the:
a. preference theory of comparative advantage. b. factor abundance theory of comparative advantage. c. concept of intraindustry trade. d. product life cycle theory of comparative advantage. e. human skills theory of comparative advantage.
The method of least squares
A. minimizes the distance between the population regression line and the sample regression line. B. can be used to estimate the slope parameters of a linear equation. C. can be used to estimate the explanatory variables in a linear regression equation. D. all of the above