Which of the following is not true for social insurance?
a. It is usually supported by taxes, usually income tax or payroll tax.
b. It serves the basis for most redistribution programs.
c. It requires mandatory participation to be effective.
d. It is the basis of the provision of medical care to the poor, elderly, and other vulnerable population groups in the U.S.
e. It is usually experience-rated with premiums based on ability to pay.
e. It is usually experience-rated with premiums based on ability to pay.
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Which question is an illustration of a microeconomic question?
A. Is the purchasing power of the dollar higher or lower today than it was in 2008? B. Does government spending influence interest rates in the economy? C. Is the volume of wine produced in 1 year dependent on the price of wine? D. Does a government deficit reduce national economic growth?
Compared to an economy’s self-correcting mechanism, active contractionary fiscal policy will
A. work more slowly and calmly. B. work more quickly. C. have less deflationary effects. D. have a smaller effect on real GDP.
Other things being equal, an increase in the price of aspirin will decrease the demand for aspirin
a. True b. False Indicate whether the statement is true or false
Which of the following firms is the closest to being a perfectly competitive firm?
a. a hot dog vendor in New York b. Microsoft Corporation c. Ford Motor Company d. the campus bookstore