Answer the following statements true (T) or false (F)
1) In the United States since 1975, the poor have gotten poorer and the rich have gotten richer in both relative and absolute terms.
2) The top 20 percent of U.S. income earners receive nearly 80 percent of total U.S. income.
3) Currently over 90 percent of all workers in the United States are covered by Social Security.
4) Unemployment compensation is financed by taxes levied on employers.
5) TANF stands for Temporary Assistance for Needy Families.
1) F
2) F
3) T
4) T
5) T
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The extra costs incurred to avoid holding cash when there is inflation are called the:
A. shoe leather costs. B. average costs of inflation. C. external costs. D. consumer price index costs.
Blueland is a small island country which specializes in the production of yachts. It has a Cobb-Douglas aggregate production function
i) How will the production of yachts get affected if the technology used for production in Blueland improves? ii) How will Blueland's output get affected if both efficiency units of labor and capital stock increase by 12.5% but the level of technology remains unchanged?
What function is money playing in each of these situations: a. You walk into a store in Germany and see that all the prices are in euros. b. You buy a candy bar for $1.25. c. Your Aunt Jane keeps $100 bills tucked into many books in her house
What will be an ideal response?
Refer to the information provided in Figure 6.14 below to answer the question(s) that follow.
Figure 6.14Refer to Figure 6.14. Jason cannot afford the bundle represented by point
A. E. B. B. C. C. D. D.