Social Security and Medicare are examples of
A) capitalism.
B) free market functions.
C) market failures.
D) governmental interventions.
Answer: D
You might also like to view...
After graduating from college and getting a job you stop buying generic brand cereal. This suggests that generic brand cereal is a(n)
A. substitutable good. B. normal good. C. complementary good. D. inferior good.
If demand for a good increases and supply remains constant equilibrium price:
a. Will increase, and equilibrium quantity will decrease b. And quantity will both increase c. And quantity will both decrease d. Will decrease, and equilibrium quantity will increase
Output combinations that lie inside the production possibilities curve are characterized by efficient use of resources.
Answer the following statement true (T) or false (F)
Average product is at a maximum when the number of workers that are hired is
A) 1. B) 2. C) 3. D) 4.