The Social Security Administration refers to the percentage of people over age 65 as the
A. recipient ratio.
B. beneficiary ratio.
C. old-age ratio.
D. dependency ratio.
Answer: D
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Consider a consumer with a choice set that emerges from an exogenous income I. Suppose that, as a result of changes in a consumer's economic circumstances, the budget line rotates outward, with the vertical intercept remaining unchanged but the horizontal intercept shifting to the right. How could this have happened if the price of the good on the horizontal axis did not change?
What will be an ideal response?
If the Federal Reserve raises the U.S. interest rate, foreigners'
A) demand for U.S. dollars will increase and the exchange rate will rise. B) demand for U.S. dollars will decrease and the exchange rate will fall. C) demand for U.S. dollars will increase and the exchange rate will fall. D) demand for U.S. dollars will decrease and the exchange rate will rise.
One of the most common uses of GDP is to:
A. track changes in an economy over time. B. see which country has the fairest distribution of wealth. C. evaluate different standards of living across countries. D. measure the amount of money has been made in the economy.
U.S. labor productivity had slowed down in the 1970s and 1980s, but recent data shows that labor productivity has once again increased in the country
a. True b. False Indicate whether the statement is true or false