Social insurance has become an increasingly large portion of federal taxes because of the "Baby Boomer" generation.
A. True
B. False
C. Uncertain
A. True
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According to your text, when people talk about "the economy", they probably have in mind
A) the stock market. B) commercial society in general. C) the marriage market. D) black markets.
An example of negative productivity shocks that could cause recessions is
a. a hurricane, which destroys capital. b. a decrease in the price of oil. c. reductions in defense spending. d. all of the above. e. both a and b.
Draw a graph illustrating the relationship between the demand curve of the perfectly competitive firm and the perfectly competitive industry. Label all curves and axes correctly.
What will be an ideal response?
Firm A and firm B both have total revenues of $200,000 and total costs of $250,000; firm A has total fixed costs of $40,000, while firm B has total fixed costs of $70,000. Which of the following statements are true in the short run?
A. Firm A should operate. B. Firm B should operate. C. Firm A should shut down. D. Firm B should shut down. E. both b and c