Which of the following tends to increase the attractiveness of a retirement system based on savings and investment rather than pay-as-you-go principles?
a. a persistent increase in the number of workers relative to the number of retirees
b. a large number of workers relative to the number of retirees
c. a reduction in the number of workers relative to the number of retirees
d. a persistent increase in the life expectancy of retirees.
C
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Once production has reached the maximum average product of labor, if production increases then
A) average fixed cost rises. B) total costs decrease. C) total product decreases. D) decreasing marginal returns occur. E) the plant size must be increased.
Owner-provided capital and owner-provided labor are examples of
A. accounting costs. B. implicit costs. C. normal rate of return. D. explicit costs.
How is the gain from exports distributed between consumers and domestic producers?
What will be an ideal response?
When the nominal interest rate increases, the quantity of credit card services
A) increases. B) decreases. C) stays constant. D) moves in unpredictable ways.