Disability income insurance is:
A. only available through the government as part of the Social Security System.
B. insurance that makes payments to workers when they are unable to work due to an injury.
C. insurance that makes payments of wages to workers when the company they work for is disabled due to a natural disaster.
D. insurance borrowers can take out in case the company they invest in defaults.
Answer: B
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Which of the following will cause a movement from one point on an AD curve to another point on the same AD curve?
A) a change in consumption B) a change in government expenditures C) a change in net exports D) a change in the price level E) all of the above
For given input prices, isocosts closer to the origin are associated with:
A. lower costs. B. higher costs. C. initially lower, then higher costs. D. the same costs.
The main objective of advertising for a monopolistically competitive firm is
A. to differentiate the product and raise sales. B. to reduce cost. C. to comply with government requirements on product information. D. to earn long run profits.
A firm is currently producing in the inelastic portion of its demand curve. What course of action do you recommend for it, assuming it wants to raise revenue?
A. Continue producing at the current output level, because it maximizes its total revenue by producing in the inelastic portion of its demand curve. B. Continue selling at the same price, but increase the amount it produces. C. Reduce price, because if it reduces price and demand is inelastic, total revenue will increase. D. Increase price, because if it increases price and demand is inelastic, total revenue will increase.