The structure of the Social Security system is particularly advantageous to
a. blacks.
b. those with life shortening diseases such as diabetes.
c. groups with below average earnings and above average life expectancy.
d. groups with above average earnings and below average life expectancy.
C
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Taxes on beer are progressive if considered in terms of lifetime income because college students consume so much beer
a. True b. False
When a tax is imposed, the surplus that is lost to buyers and sellers but converted into tax revenue is:
A. considered a cost of taxation. B. part of deadweight loss. C. the sole source of deadweight loss. D. not part of deadweight loss.
Suppose income falls 5 percent in a year, and as a result, housing construction falls from 10 million to 5 million units annually. Based on this information, housing starts are
A. Price-inelastic. B. Price-elastic. C. A normal good. D. An inferior good.
What is shown by the indifference map for two goods? Which indifference curve would a consumer want to be on?
Please provide the best answer for the statement.