A perfectly competitive firm should continue to expand output whenever
A. P > AC.
B. P > MC.
C. P > AVC.
D. P > AFC.
Answer: B
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The pay-as-you-go nature of the Social Security system means that _____
a. current beneficiaries are paid out of general tax revenues
b. current beneficiaries are paid out of the payroll taxes levied on current workers
c. current beneficiaries are paid based on contributions made during their last five working years
d. current beneficiaries are paid out of current earnings on the Social Security trust fund
Other things being equal, the effects of an increase in the price of computers would best be represented by which of the following?
A. A movement up along the demand curve for computers. B. A movement down along the demand curve for computers. C. A leftward shift in the demand curve for computers. D. A rightward shift in the demand curve for computers.
The slope of a graph that shows a direct relationship is
What will be an ideal response?
The number of central banks that exist in the world today is:
A. over 50 but less than 100. B. less than 10. C. about 250. D. over 180.