The Social Security system is a(n)
A) ad valorem system.
B) ability to pay system.
C) progressive tax system.
D) pay-as-you-go system.
D
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Suppose the market demand elasticity is constant at -2, and there are three identical firms in the oligopolistic market. A Cournot firm's MPL = 1.2L-0.5, then the labor demand for a Cournot firm is
A) PL-0.5. B) 0.6PL-0.5. C) 0.2PL-2. D) PL-2.
The American Federation of Labor (AFL) was created
a. as an organization of highly autonomous craft unions b. to protect the growing number of economically powerless workers c. to promote the creation of industrial unions d. to give broad representation to workers with very different skills and occupations e. to represent less-skilled industrial workers
The stock market crash of 1929 led to:
A. the Great Depression. B. the Great Recession. C. Black Thursday. D. the South Seas bubble burst.
GDP can be calculated using
A. the way people earn money (but not the way people spend money). B. the way people spend money (but not the way people earn money). C. either the ways people earn money or the ways people spend money. D. the difference between the way people earn money and the way they spend it.