Broadly speaking, Social Security redistributes incomes from high-to low-income individuals, from men to women, and from young to old.
A. True
B. False
C. Uncertain
A. True
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Imports and Exports
- Did imports and exports grow faster or slower than U.S. GDP since 1970?
- Why did U.S. imports rise in 2006?
- What happened to the trade deficit in 2006? Why?
- How might the widespread use of the internet affect international trade?
Refer to the information provided in Figure 7.8 below to answer the question(s) that follow. 
Figure 7.8Refer to Figure 7.8 The firm?s isocost line could shift from CE to CD if
A. the price of capital increased. B. the price of labor increased by 33%. C. the firm?s total expenditures decreased by 33%. D. the firm?s total expenditures decreased by 33% or the price of capital and labor each increased by 50%.
If international trade is restricted by the government:
a. domestic consumers are benefited. b. domestic producers are adversely affected. c. consumers in the importing country are required to pay higher prices for the goods. d. consumers can access to better quality product at lower prices. e. the resources are allocated to their highest paid uses.
Explain the condition where society would be better off when more of a good is produced
What will be an ideal response?