When considering voting options, if option X beats Y, and Y beats Z, then transitivity says that:
A. Z beats X.
B. X beats Z.
C. Z beats Y.
D. Y beats X.
Answer: B
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The main center of the Eurodollar market is
A) London. B) Basel. C) Paris. D) New York.
Profit maximization implies that firms will want to ________
A) accumulate capital while the MPK is greater than the real wage B) accumulate capital while the MPK is greater than the rental price of capital C) accumulate labor while the MPK is greater than the rental price of capital D) accumulate labor while the MPK is greater than the real wage E) none of the above
Which of the following about Social Security is true?
a. The regressive nature of the Social Security benefit formula works to the advantage of groups with below average earnings. b. Groups with an below average life expectancy gain from Social Security because they will typically draw retirement benefits over a more lengthy period of time. c. The life expectancy of Hispanics at age 20 is generally lower than the figures for whites and blacks. d. Hispanics derive a higher return from their Social Security taxes than whites, and substantially higher than blacks.
The demand curve facing a monopolist will be more elastic
A. as the number of consumers increases. B. the greater is the amount of fixed costs to cover. C. the greater is the number of substitute products. D. as the consumers' need for the good increases.