(Last Word) The combined cost of Social Security and Medicare programs was what percent of U.S. GDP in 2011?
A. 8.5.
B. 12.0.
C. 17.2.
D. 13.0.
A. 8.5.
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What is an oligopoly? Give two examples of oligopolistic industries in the United States
What will be an ideal response?
A perfectly competitive firm will minimize its losses by shutting down when:
A) P < AVC at the profit-maximizing level of output. B) P < ATC at the profit-maximizing level of output. C) P < MC at the profit-maximizing level of output. D) P < TFC at the profit-maximizing level of output.
Many communities use a mixed-flow recycling program in which various types of bottles, cans, and other containers are placed in a single recycling bin
Suppose a community alters its recycling program by mandating that the containers must be sorted by type of material (i.e., glass, aluminum, plastic). What is the expected impact of this change on the optimal quantity of unredeemed (scrapped) containers? A) Optimal quantity increases B) Optimal quantity decreases C) Optimal quantity remains unchanged D) We cannot determine the outcome of this policy change without having more information
Using the above table, the market clearing price for this product is
A) $5. B) $4. C) $3. D) $2.