As the baby boom generation, born during 1946 through 1960, reaches retirement age during the 2011 through 2030 period, the number of workers per Social Security beneficiary is expected to
a. increase to five.
b. remain constant at approximately seven.
c. decline to approximately five.
d. decline to approximately two.
D
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Demand-pull inflation has its most extreme effect on a nation's price level in the:
a. Keynesian range. b. Twilight zone. c. Intermediate range. d. Classical range. e. Somewhere over the rainbow.
Suppose the interest rate on one-year U.S. T-bills is 4 percent and the interest rate on one-year British T-bills is 6.5 percent. If the dollar is at a forward premium against the British pound of 1 percent, an American investor who does not want to face exchange-rate risk (but does want to earn the highest possible return) should
A. invest in dollar-denominated assets. B. forego use of the forward exchange-rate market. C. invest in pound-denominated assets. D. do nothing because exchange-rate risk is unacceptable.
If a firm shuts down in the short run
A) its loss equals zero. B) its loss equals its fixed cost. C) is makes zero economic profit. D) its total revenue is not large enough to cover its fixed cost.
Suppose the market for autoworkers is initially in equilibrium, but then the demand for automobiles increases and simultaneously the automakers allow autoworkers less flexibility working at the plants. What happens in the market for autoworkers?
A. The equilibrium wage rate and the equilibrium quantity of labor will both decrease. B. The equilibrium wage rate will increase and the equilibrium quantity of labor will increase, decrease or stay the same. C. The equilibrium wage rate will increase, decrease or stay the same and the equilibrium quantity of labor will increase. D. The equilibrium wage rate will decrease and the equilibrium quantity of labor will increase.