The precipitous fall in stock prices between March 2000 and December 2002
A. undercut political support for partial privatization of Social Security.
B. caused the government to increase Social Security payments.
C. emboldened those in favor of partial privatization of Social Security.
D. greatly affected the payouts associated with Social Security.
Answer: A
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At a local ice cream parlor, when the price of half-gallons of chocolate ice cream was lowered by fifty cents per half-gallon, total revenue from the sale of chocolate ice cream decreased. This result indicates that
A) there are more people who like vanilla ice cream than there are people who like chocolate ice cream. B) the demand for chocolate ice cream is inelastic. C) the demand for chocolate ice cream is elastic. D) None of the above answers is correct.
The expected value is a measure of
A) risk. B) variability. C) uncertainty. D) central tendency.
The idea that supply creates its own demand is known as
A) the law of supply. B) the law of demand. C) Keynes' law. D) Say's law.
Describe the differences between the demand curve and the supply curve for the Mexican peso in the foreign exchange market, and explain the reasons for their particular slopes.
What will be an ideal response?