In 1970 the Social Security tax rate was ______ and had increased to ______ by 2012.
A. 0.84%; 0.124%
B. 12.4%; 8.4%
C. 8.4%; 12.4%
D. 84%; 124%
C. 8.4%; 12.4%
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Free-riding is a problem associated with
a. nonrivalrous goods. b. nonexclusive goods. c. both nonrivalrous and nonexclusive goods. d. neither nonrivalrous nor nonexclusive goods.
How will a reduction in the price of cotton influence the market for blue jeans?
a. The cost of producing blue jeans will fall, and the supply curve for blue jeans will shift to the left. b. The cost of producing blue jeans will fall, and the supply curve for blue jeans will shift to the right. c. The cost of producing blue jeans will rise, and the supply curve for blue jeans will shift to the left. d. The cost of producing blue jeans will rise, and the supply curve for blue jeans will shift to the right.
More generous unemployment insurance would
a. raise structural unemployment. b. raise frictional unemployment. c. lower structural unemployment. d. lower frictional unemployment.
Alexis de Tocqueville observed in his Democracy in America: "There is no country in which everything can be provided for by the laws, or in which political institutions can prove a substitute for
A) common sense and morality."
B) economic development."
C) police and prisons."
D) supply and demand."
E) the private pursuit of private interests."