The purpose of the Supplemental Security Income program is
A) to provide a minimum income for all households with children.
B) to provide a guaranteed minimum income for all Americans.
C) to provide a minimum income for the aged, blind, and the disabled.
D) to supplement Social Security for the elderly with medical problems.
C
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Which of the following statements does not accurately describe the market for labor?
a. The characteristics of workers, such as their education and experience, the characteristics of jobs, such as their pleasantness or unpleasantness, and the presence or absence of discrimination by employers all determine equilibrium wages. b. Labor unions, minimum wage laws, and efficiency wages all may increase wages above their equilibrium level. c. Firms are willing to pay more for better-educated workers as long as there is an excess supply of this type of worker. d. Discrimination by employers against a group of workers may artificially lower wages for that group.
Gino's Pizza shop hires workers in a competitive market to make pizza. The ingredients required to make each pizza cost $5. Daily output at Gino's Pizza varies with the number of workers hired, as shown in the table: Number of workersPizzas/day00116236354470584696 If pizzas sell for $8 each, what is the value marginal product for the 4th worker?
A. $96 per day B. $128 per day C. $48 per day D. $112 per day
If an additional unit of labor costs $20 and has a MPP of 15 units of output, the marginal cost is
A. $30.00. B. $0.75. C. $1.33. D. $300.00.
The relationship between the government deficit and the change in the monetary base is
A) deficit equals change in government debt held by the public minus change in monetary base. B) deficit equals change in government debt held by the public plus change in monetary base. C) deficit equals change in government debt outstanding plus change in monetary base. D) deficit equals change in government debt outstanding minus change in monetary base.