The political problems associated with fixing the CPI are that
A. benefits to the poor would rise.
B. Social Security benefits would fall.
C. personal income taxes would fall.
D. Social Security taxes would rise.
Answer: B
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Which of the following is not an excise tax?
a. A tax on cigarettes. b. A tax on beer. c. A tax on corporations. d. A tax on airline tickets.
The argument that import restrictions save jobs and promote prosperity fails to recognize that:
A. there are no secondary effects of import restrictions. B. import restrictions will lower prices in the protected industries. C. import restrictions cannot create jobs in any industries. D. U.S. imports provide people in other countries with the dollars power required for the purchase of U.S. exports.
Say a pill existed that made people selfless. After taking it they were only interested in others, not themselves. Under the coordination definition of economics:
A. there would be a political problem but not an economic problem. B. no economic problem would exist. C. there still would be an economic problem. D. there would be a social problem but not an economic problem.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point D to Point B, the opportunity cost of hybrid cars, measured in terms of motorcycles,
A. initially increases, then decreases. B. increases. C. remains constant. D. decreases.