The official name of the Social Security program is _____
a. Old Age, Survivors, Disability, and Health Insurance
b. Old Age, Dependents, Survivors, and Disability Insurance
c. Old Age, Dependents, Disability, and Health Insurance
d. Seniors, Survivors, Dependents, and Health Insurance
a
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Refer to Figure 3-6. The figure above represents the market for coffee grinders. Assume that the price of coffee grinders is $50. At this price,
A) there is a surplus equal to 90 coffee grinders that will be eliminated when the price falls to $25. B) the supply exceeds the demand by 90. Some producers will have an incentive to offer to sell coffee grinders at a lower price. C) there is a surplus equal to 90 coffee grinders and the price of coffee grinders will fall until demand is equal to supply. D) the quantity supplied exceeds the quantity supplied by 100. The price will eventually fall to $25 where quantity demanded will equal quantity supplied.
The above figure shows the marginal benefit to a firm of polluting in the local river while producing its output, and the marginal cost to the firm's neighbor. The marginal cost of production is zero for the firm
If there is just one neighbor who owns the river, how much pollution is likely to occur? A) 0 units B) 500 units C) 1000 units D) more than 1000 units.
With free entry
A) economic profits are possible over the long run. B) economic profits are possible but only over limited amounts of time. C) economic profits are not possible. D) the cost of capital will not be covered.
The price of the average domestic good or service relative to the price of the average foreign good or service, when prices are expressed in terms of a common currency is called the ________ exchange rate.
A. fixed B. nominal C. real D. flexible