If the revenues and expenditures of the Social Security trust fund were not included when calculating the budget deficit, the recalculated deficit would
a. be larger.
b. be smaller.
c. be unchanged.
d. actually be a surplus.
A
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Assume a subsidy to buyers has been enacted in the market in the graph shown. With the subsidy, the producers sell _____ units and receive _____ for each of them.
A. 100; $46
B. 100; $30
C. 150; $40
D. 150; $24
Coase argued that the free market should be able to solve the externality problem without assigning property rights
a. True b. False
Which of the following states the relationship between a bond's price and its yield?
a. As the price falls, the yield falls. b. Price and yield are usually independent of each other. c. As the price rises, the yield rises. d. As the price rises, the yield falls. e. As the yield rises, so does the price.
Describe the source of tension between cooperation and self-interest in a market characterized by oligopoly. Use an example of an actual cartel arrangement to demonstrate why this tension creates instability in cartels