One reason earnings tend to fall before retirement age is that
A. people are retiring earlier.
B. firms discriminate against older workers.
C. people tend to reduce the number of hours they work after age 50.
D. the experience of people is no longer valuable after they are 50 or 55.
Answer: C
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If your competitors will follow your price cuts and ignore price hikes, your firm
A. faces perfect competition. B. faces a kinked demand curve. C. is the marginal price leader of an oligopoly. D. must be the most efficient firm in the industry.
The federal budget deficit was almost $____ billion in fiscal year 1992.
A. 100 B. 200 C. 300 D. 400 E. 500
If the Federal Reserve is currently paying 0.75 percent interest on bank reserves, but then increases that interest rate to 1 percent, banks may decide to hold ________ reserves, and the money supply may ________.
A. more; decrease B. fewer; decrease C. fewer; increase D. more; increase
In 1991, the European Union began the process of forming the
A. only continental military force in the world. B. first international trade agreement in the world. C. first unified currency in the world. D. largest free-trade zone in the world.