The increase importance of Social Security taxes at the federal level has likely _____
a. decreased the excess burden of the federal tax sytem
b. increased the efficiency of the federal tax system
c. increased the progressivity of the federal tax system
d. reduced the progressivity of the federal tax system
d
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________ are asymmetric information problems that act as a barrier to efficient allocation of capital
A) Asset prices B) Credit imbalances C) Financial frictions D) Financial derivatives
A new entrant is an individual
A) in the labor force whose employment was involuntarily terminated. B) who used to work full time but left the labor force and has now reentered it looking for a job. C) in the labor force who quits voluntarily. D) who has never held a full-time job lasting two weeks or longer but is now seeking employment.
Early developers within a given industry benefit from economies of scale, in that they are able to
a. produce larger volumes at a lower cost. b. shape the product based on what the consumer wants. c. avoid competition by creating a monopoly. d. start big instead of having to start small.
You won a free ticket to see the latest Star Wars movie this Friday night (which you can costlessly resell for its face value of $15). Your favorite band is also performing on Friday and is your only alternative activity. Friday is your last chance to see either the movie or the band. Tickets to see your favorite band cost $30, and on any given day, you would be willing to pay as much as $50 for a ticket. Based on this information, what is your opportunity cost of going to see the Star Wars movie on Friday?
A. $35 B. $30 C. $50 D. $0