Social Security
A. Allows the market to determine FOR WHOM goods are produced.
B. Is financed like private pension plans.
C. Results in regressive wage replacement rates.
D. Is an intergenerational redistribution of income.
Answer: D
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A profit maximizing firm selects output such that
A) average profit is maximized. B) total profit is maximized. C) marginal profit is maximized. D) Both A and B.
A small business owner earns $60,000 in revenue annually. The explicit annual costs equal $40,000. The owner could work for someone else and earn $25,000 annually. The owner's business profit is ________ and the economic profit is ________
A) $20,000, $5,000 B) $20,000, -$5,000 C) $25,000, -$5,000 D) $45,000, -$5,000
The 2009 fiscal stimulus bill represented approximately
a. 5.5% of GDP and was designed to close the expansionary gap. b. 5.5% of GDP and was designed to close the recessionary gap. c. 7.8% of GDP and was designed to close the expansionary gap. d. 7.8% of GDP and was designed to close the recessionary gap.
Standard & Poor's sells information to investors; this is their primary business. Is this an example of a financial intermediary? Explain.
What will be an ideal response?