Ida May Fuller was the first
A. person enrolled in a 401(k) retirement plan.
B. director of the Social Security Administration.
C. recipient of a Social Security check.
D. person issued a Social Security number.
Answer: C
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In determining whether a market meets the conditions for perfect competition, it is necessary to
A. consider the number of firms in the market. B. determine the appropriate size of the firm. C. assess the production technology available to firms. D. evaluate the promotional tools that can be used by firms.
Suppose that the quantity demanded of visits to a doctor per year is given by X = 12 - 0.05P, where X is the number of visits and P is the price the patient pays for a visit.
(a) How many visits would the patient make if he or she had to pay the full price of a visit, $100? (b) How many visits would a patient make if he or she was insured and had to pay only a 15% co-insurance payment per visit? (c) How many visits would the patient make if medical services were free?
If there is 2 percent frictional unemployment, 3 percent structural unemployment, and 1 percent cyclical unemployment, then the natural rate of unemployment equals:
A. 3%. B. 6%. C. 4%. D. 5%.
Fill in the table.
