The fact that the Social Security tax is shared evenly between employers and employees _____
a. has nothing to do with who bears the actual burden of the tax
b. has everything to do with who bears the actual burden of the tax
c. is important to who bears the actual burden of the tax if the supply curve is perfectly inelastic
d. is important to who bears the actual burden of the tax if the demand curve is perfectly inelastic
a
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The two types of trade, intertemporal and pure asset swap ________ perfect substitutes, because ________
A) are; they both offer considerable payoff and are equal in the long run B) are; they both involve the smoothing out of now and future consumption C) are not; asset swapping is immediate and involves only assets, while intertemporal trade takes two time periods and involves both assets and goods/services D) could possibly be; different economic states occur at different points in time E) are not; asset swapping never relates to intertemporal trade
For restrictive covenants to help reduce the moral hazard problem, they must be ________ by the lender
A) monitored and enforced B) written in all capitals C) easily changed D) impossible to remove
What best describes the antebellum economy?
a. By 1860 the size of most American firms was comparable to the size of firms today. b. Manufacturing had replaced agriculture as the largest sector of employment in the US. c. Heavy equipment was one of the top-three manufacturing sectors. d. The U.S. developed many new ways of combining factors of production to substitute capital for labor.
In order to maximize the net gains from an activity, a Maeva should choose the quantity at which the marginal:
a. benefit exceeds the marginal cost by the greatest amount. b. benefit is zero. c. benefit is equal to the marginal cost. d. cost is lowest