Future benefits for Social Security will ultimately be determined by _____
a. population growth
b. individual decisions on when to retire
c. the existence of private accounts
d. voters through the political process
d
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Which of the following pricing strategies allows a firm to earn economic profit?
A) charging a price equal to the average variable cost of production B) charging a price equal to marginal cost C) price discrimination D) charging a price equal to the average total cost of production
A widget costs $1000 in the US and CAD$1200 in Canada. The current exchange rate is 1USD=1.09CAD. At this rate,
a. The good costs more in the US b. The good costs more in Canada c. The good costs the same across the two countries d. None of the above
Firms exist because of
A) incomplete contracts. B) team production. C) the incentive to free ride. D) all of these choices.
A macroeconomist would study
A. the cost problems at several airlines. B. the economy's total income level. C. the price changes of smart phones. D. none of these