The primary purpose of Social Security is to:
A. subsidize families in need.
B. offset the progressiveness of the personal income tax.
C. provide income for workers who are temporarily unemployed.
D. provide income for retired and disabled workers.
Answer: D
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Starting from long-run equilibrium, an increase in autonomous consumption results in ________ output in the short run and ________ output in the long run.
A. higher; higher B. higher; potential C. lower; higher D. lower; potential
The labor force in an economy consists of all: a. the people in the economy who are not retired
b. the people in the economy over 16 years of age. c. the adults in the economy between 18 and 65 years old who are able to work. d. the civilian noninstitutional adult population that is either working or looking for work. e. the noninstitutional adult population who are graduates of high school.
Macroeconomics is the study of
a. how the price of gasoline is determined b. large objects c. the economic behavior of individual decision makers d. the behavior of the economy as a whole e. the economic behavior of individual firms
What are the three initial conditions that trigger economic populism?
What will be an ideal response?