Social Security is:
A. not purely a pension program, because some people receive more than they paid in.
B. a means-tested public assistance program designed to assist the poor.
C. a means-tested public assistance program designed to reduce income inequality.
D. a pension program that returns benefits to participants equal to the amount paid in.
Answer: A
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Which of the following is not a legal organization of a firm?
A) corporation B) partnership C) entrepreneurship D) proprietorship
Economists define disposable income (Yd )
What will be an ideal response?
Suppose labor demand can be described as ED = 120,000 ? 1.5w where w is yearly salary. How many more workers are demanded at a going wage of $60,000?
A. 50,000 B. 30,000 C. 20,000 D. 60,000 E. 40,000
Compared to a barter economy, using money increases efficiency by reducing:
A. transaction costs. B. the need to exchange goods. C. the need to specialize. D. inflation.