Which of the following is a way in which Social Security benefits could be cut?
A. An increase in the rate of inflation
B. A smaller penalty for early retirement
C. An increase in the payroll tax rate
D. A higher retirement age
Answer: D
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Marginal revenue for a price taker is
A) equal to price. B) less than price. C) more than price. D) unrelated to price.
A nation can determine how close it is to the classical range by considering its:
a. Net export position. b. Capacity utilization index. c. Exchange rate. d. All of the above.
Suppose a U.S. computer company outsources its technical-support services to India. This will cause
A) the demand for labor in the United States to fall, lowering U.S. wage rates, and the demand for labor in India to increase, increasing Indian wage rates. B) the demand for labor in the United States to increase, lowering U.S. wage rates, and the demand for labor in India to fall, increasing Indian wage rates. C) the demand for labor in the United States to fall, lowering U.S. wage rates, and the demand for labor in India to fall, decreasing Indian wage rates. D) the demand for labor in the United States to increase, increasing U.S. wage rates, and the demand for labor in India to fall, decreasing Indian wage rates.
The type of unemployment that arises during recessions is known as
A. structural unemployment. B. the natural rate of unemployment. C. frictional unemployment. D. cyclical unemployment.