What is the name of the pension plan under which employees can make tax-deductible contributions through regular payroll deductions?
A) 401(k) plans
B) Social Security plans
C) Early retirement plans
D) 486(b) plans
A
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Monetary policy can
A) shift the short-run trade-off between inflation and unemployment if it affects expected inflation. B) shift the long-run trade-off between inflation and unemployment through changes in cyclical unemployment. C) shift both the short-run and long-run trade-offs between inflation and unemployment if changes in policy are credible. D) shift neither the short-run nor long-run Phillips curve trade-offs between inflation and unemployment.
Unemployment that results from technological changes that renders some people's skills obsolete is called: a. frictional unemployment. b. cyclical unemployment
c. structural unemployment. d. seasonal unemployment.
Which of the following best describes the idea of excess capacity in monopolistic competition?
a. Firms produce more output than is socially desirable. b. The output produced by a typical firm is less than what would occur at the minimum point on its ATC curve. c. Due to product differentiation, firms choose output levels at which P > ATC. d. Firms keep some surplus output on hand in case there is a shift in demand for their product. e. The collective output of all firms in the market typically exceeds the quantity demanded.
Suppose a long stretch of beach with many possible public and private entrances is such that it is impossible to control access and, as a result, gets very crowded on summer days. Which recognized characteristic of goods holds
A. morality. B. exclusivity. C. rivalry. D. lucidity.