Which of the programs below would transfer wealth from the young to the old?
a. Taxes are raised to provide better education.
b. Taxes are raised to improve government infrastructure such as roads and bridges.
c. Taxes are raised to provide more generous Social Security benefits.
d. None of the above transfer wealth form the young to the old.
c
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What is the largest reason for people being unemployed?
a. New entrants b. Re-entrants c. Job losers d. Job leavers
Explicit costs include:
A. variable costs. B. fixed costs. C. out-of-pocket costs. D. All of these are included in explicit costs.
In the Keynesian model, whenever planned investment is less than planned saving
A) the amount of planned investment will decrease, and real GDP will decrease. B) there will be an unplanned inventory increase, and real GDP will eventually decrease. C) there will be an unplanned inventory decrease, and real GDP will eventually increase. D) the amount of planned investment will decrease, and real GDP will remain unchanged.
Labor productivity is $30 per hour and aggregate hours are 165 billion hours. What does real GDP equal?
What will be an ideal response?