Social Security payments:
A. continue to cause the elderly to lose income over time, since payments are not adjusted for inflation.
B. cause concern for retirees, due to the increase in life expectancies.
C. hold their real value because they are adjusted for inflation.
D. are the biggest drain on the retirees budget each year.
C. hold their real value because they are adjusted for inflation.
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On a balance sheet, a company's accounts receivable are listed as
A) current liabilities. B) goodwill. C) current assets. D) stockholder's equity.
The graph of the short-run relationship between the unemployment rate and inflation is called a(n)
A) MP curve. B) LM curve. C) IS curve. D) Phillips curve.
In the short run, the monopolist should continue to produce whenever
a. price is greater than zero b. price is less than average total cost c. price is greater than average variable cost d. price divided by average total cost exceeds the ratio of marginal cost to average cost at the optimal output e. price is less than average variable cost at the optimal output
David Ricardo discovered that two countries can still gain by trading even if one country is more efficient in the production of every commodity. Ricardo's discovery is called the law of
a. comparative advantage. b. absolute advantage. c. compensating balances. d. increasing returns.