A factor that would reduce the ability of the Social Security system to maintain current benefit levels with constant tax rates is
a. rapid real wage growth.
b. reduced population growth.
c. adoption of a "pay as you go" system.
d. a slowdown in inflation.
b
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From 8 to 11 p.m., Sam can either attend a basketball game, a hockey match or the symphony. Suppose that Sam decides to attend the hockey match and thinks to herself that if she did not go to the match she would go to the symphony
Then the opportunity cost of attending the hockey match is A) going to the symphony and the basketball game. B) going to the symphony. C) going to the basketball game. D) three hours of time.
State and local governments receive money from sales taxes, property taxes, and the federal government.
Answer the following statement true (T) or false (F)
According to? Keynes, when there is excess capacity in an? economy, the equilibrium level of real GDP per year is determined by
A. ?short-run aggregate supply. B. ?long-run aggregate supply. C. aggregate demand. D. the price level.
If the marginal cost of a candy bar is $.10 and the producer sells it for $1.00, then the producer surplus on that candy bar is $1.10.
Answer the following statement true (T) or false (F)