The gross replacement rate is typically 95% of pretax earnings.
A. True
B. False
C. Uncertain
B. False
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If marginal revenue is greater than zero, then demand at this level of output is
A) unit elastic. B) elastic. C) inelastic. D) steeper than the marginal revenue curve.
Which of the following would be considered an implicit cost?
a. Health insurance of employees paid for by the firm b. The water bill of the firm c. The salaries paid to the managers of the firm d. Foregone rent on assets owned by the firm
In the Keynesian model, the government can respond to a recessionary or inflationary gap by:
A. changing the quantity of money. B. relying on the spending multiplier to generate a change in real GDP that is a multiple of the change in autonomous spending. C. changing autonomous spending
There is an increase in incomes. What happens in the market for steak?
A) The equilibrium price falls, and the equilibrium quantity rises. B) The equilibrium price rises, and the equilibrium price falls. C) The equilibrium price and quantity rise. D) The equilibrium price and quantity fall.