Unemployment insurance pools risk across ________, and Social Security and Medicare pool risk across ________
A. time; age.
B. the labor force; all retired people.
C. the labor force; time.
D. time; the labor force.
Answer: C
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The market demand is the ________ of the individual demand of all the potential buyers
A) square of the sum B) sum C) product D) square root of the sum
The table below shows four alternative techniques for assembling a car. The cost of labor is $20 per hour, and the cost of capital is $10 per hour. Which of the four techniques for assembling a car is economically efficient?
A) T-1 B) T-2 C) T-3 D) T-4
Money is the means of payment in the economy. Examples of money include
a. currency, checking account balances, and credit card limits b. ATM cards, checking account balances, and currency c. travelers' checks and credit card limits d. currency, stocks, and travelers' checks e. currency, travelers' checks, and personal checks
Suppose the economy goes from a point on its production possibilities frontier (PPF) to a point below that PPF. Assuming that the PPF has not shifted, this could be due to
A) a gain of resources. B) a loss of resources. C) technological improvement in the production of both goods. D) an increase in unemployment of some resources.