In the short run, efforts to reduce the unemployment rate are likely to cause
a. a decrease in the inflation rate.
b. an increase in the inflation rate.
c. no change in the inflation rate.
d. Uncertain-economists have found no relationship between the two variables.
b
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If in 2016, a woman made $50,000 on the job, $20,000 from a consulting business she operated, and $25,000 in dividends on stock she owned, she would owe old-age Social Security taxes on
A. $50,000. B. $87,000. C. $70,000. D. $95,000.
The transactions approach to measuring money relies on the role of money primarily as a
A) temporary store of value. B) standard of deferred payment. C) unit of account. D) medium of exchange.
The difference between explicit costs and implicit costs
A) is that explicit costs are opportunity costs while implicit costs are not. B) is that implicit costs are opportunity costs while explicit costs are not. C) is that explicit costs are short-run costs and implicit costs are long-run costs. D) is that explicit costs involve resources that are purchased and implicit costs involve resources the firm already owns.
Organizational structure can be a strategic asset if it
A) adds value. B) adds value and can be duplicated. C) adds value and cannot be duplicated. D) can be franchised.