Economists Novy-Marx and Rauh contend that if New York wanted to adequately fund its pension systems for its public workers, it would have to put on
A. a one-time tax of nearly $390,000 per household.
B. an annual tax of only $39 per household.
C. an annual tax of nearly $39,000 per household.
D. a one-time tax of nearly $39,000 per household.
Answer: D
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Many government regulations are law because small groups receive large benefits from them
Indicate whether the statement is true or false
A worker who brings both labor and human capital to her job earns
a. both the wage rate for her labor and a share in the employer's profits. b. both the wage rate for her labor and a market rate of return on her skills. c. the going wage rate for her labor, the benefits of her capital accrue to her employer's owners. d. both the going wage rate for her labor and annual bonuses based on the level of profits and her skills.
An open-market purchase
a. increases the number of dollars and the number of bonds in the hands of the public. b. increases the number of dollars in the hands of the public and decreases the number of bonds in the hands of the public. c. decreases the number of dollars and the number of bonds in the hands of the public. d. decreases the number of dollars in the hands of the public and increases the number of bonds in the hands of the public.
The “cost disease of personal services” phenomenon helps explain why medical care has become so expensive.
Answer the following statement true (T) or false (F)