People are often heard saying, "She makes good money." An economic interpretation of this statement would be that
a. she has an honest job.
b. she makes money that is not counterfeit.
c. she has a high income.
d. there is little inflation.
c
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A lawn service is deciding whether to add an additional employee to its summer crew. The marginal cost of hiring this worker depends on the
A) total amount paid to only the new worker. B) total amount paid to all previously hired workers. C) the total amount paid to all the workers, both the new one and the previously hired workers. D) the additional revenue created by having an additional worker minus the cost of hiring the worker.
Assume that maximum feasible hourly productions levels if all resources are utilized in the United States are either 8 yards of fabric or 4 bushels of wheat
Maximum feasible production levels if all resources are utilized in Japan are either 3 yards of fabric or 6 bushels of wheat. Based on this information A) beneficial trade is absolutely impossible between the two countries. B) the United States will benefit from trading but Japan will not. C) both nations will gain from specialization and trade, with the United States exporting wheat and Japan exporting fabric. D) both nations will gain from specialization and trade, with the United States exporting fabric and Japan exporting wheat.
Excise tax is considered ______ because lower earners pay a ______ percentage of their income for this type of tax.
a. progressive; higher b. regressive; lower c. regressive; higher d. progressive; lower
The revenue in the Social Security Trust Fund first fell below the benefits it paid out in 2010. If this trend continues, the Trust Fund will be depleted. What change(s) occurred to cause the revenue to fall below the benefits?
A. The U.S. Treasury Securities in which the Trust Fund is invested began paying out less interest. B. Life expectancy is rising and a larger number of people are retiring. C. The age at which retired individuals could start collecting benefits was lowered. D. People were allowed to start privately investing some of their money in stocks and lost money through risky investments.