Social Security was intended to
A. cover all of the income necessary for retirement.
B. provide a safety net of retirement income to which recipients would add their savings and pensions.
C. provide retirement income for only those without private pensions.
D. provide retirement income for only those who did not save for themselves.
Answer: B
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When an infinite value is placed on human life, policymakers who rely on cost-benefit analysis
a. are forced to pursue any project in which a single human life is saved. b. are likely to make decisions that optimally allocate society's scarce resources. c. would not pursue any public project that would not save human life. d. would be forced to rely on private markets to provide public goods.
Suppose there are 3 possible outcomes to a vote: A, B, and C. If voters prefer A to B, C to B, and A to C, which of the following concepts are violated?
a. Transitivity b. Median Voter Theorem c. Arrow's Impossibility Theorem d. None of the above concepts are violated
A cost-push inflation spiral results if the Fed's response to stagflation is to keep...
What will be an ideal response?
Which of the following is NOT a characteristic of oligopoly firms?
A. non-price competition, such as advertising and promotions B. perfectly elastic demand curves C. product differentiation D. strategic dependence