Social Security transfers wealth from younger generations to older generations
a. True
b. False
Indicate whether the statement is true or false
True
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Countries that have greater employment protection laws than other countries generally have ________ unemployment rates, with spells of unemployment tending to ________
A) lower; last longer B) lower; be shorter C) higher; last longer D) higher; be shorter
Consider a demand curve for peaches. Which of the following movements will be observed if the price of peaches decline at a point in time?
a. The demand curve will rotate inward at the given price level. b. The will be a movement up along the demand curve. c. The demand curve will rotate outward at the given price level. d. There will be a downward movement along the demand curve. e. The demand curve will become steeper.
Suppose the economy is at a short-run equilibrium GDP that lies below potential GDP. Which of the following will occur because of the automatic mechanism adjusting the economy back to potential GDP?
A) Output will decrease. B) Prices will increase. C) Unemployment will rise. D) Short-run aggregate supply will shift to the right.
Suppose the following information describes the economy:Government purchases of goods and services1,000Household saving2,000Government transfers and interest payments500Tax collections1,500Business saving2,500Private saving equals ________; public saving equals ________; national saving equals ________.
A. 500; -1,500 B. 4,500; 0 C. 4,500; 1,000 D. 1,000; 1,000