Social insurance programs partially replace income that has been lost due to the following, except:
A. Retirement
B. Disabilities
C. Temporary unemployment
D. Resignation from a job
D. Resignation from a job
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Answer the following statement(s) true (T) or false (F)
1. Microeconomics is the study of the whole economy, including topics of inflation and economic growth. 2. Causation occurs when two events occur together. 3. The fallacy of composition states that even if something is true for an individual, it is not necessarily true for many individuals combined in a group. 4. In the role of scientist, the economist is concerned about the ethics of human behavior.
Which of the following is true of dummy variables?
A. A dummy variable always takes a value less than 1. B. A dummy variable always takes a value higher than 1. C. A dummy variable takes a value of 0 or 1. D. A dummy variable takes a value of 1 or 10.
Experiments by psychologists and neuroscientists have consistently shown that people systematically ________ the strength of positive gut feelings and ________ the strength of negative gut feelings.
A. underestimate; underestimate B. underestimate; overestimate C. overestimate; underestimate D. overestimate; overestimate
In long-run equilibrium for a perfectly competitive industry, firms earn ________ economic profits and produce ________.
A. positive; inefficiently B. zero; inefficiently C. positive; efficiently D. zero; efficiently