Which of the following about Social Security is true?
a. The regressive nature of the Social Security benefit formula works to the disadvantage of blacks and other groups with below-average earnings.
b. Social Security works to the disadvantage of blacks and other groups with below-average life expectancy.
c. Blacks derive a higher rate of return from their Social Security taxes than whites.
d. Hispanics derive a lower rate of return from their Social Security taxes than both whites and blacks.
B
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During the 1970s, the inflation rate and the unemployment rate were inversely related
a. True b. False Indicate whether the statement is true or false
What happens if the price of a product is below the equilibrium price?
A. The buyers will stop purchasing a "cheap" product. B. The producer will lower the price to sell more product. C. There will be an excess demand for the product. D. There will be a surplus of the product.
Refer to the information provided in Scenario 25.1 below to answer the question(s) that follow.SCENARIO 25.1: The following table shows the changes in deposits, reserves, and loans of 4 banks as a result of a $100,000 initial deposit in Bank No. 1. Assume all banks are loaned up.
Refer to Scenario 25.1. If the required reserve ratio were changed to 10%, total loans of Bank No. 2 will change to
A. 77,400. B. 81,000. C. 85,000. D. 90,000.
Which of these will hold true for an unregulated, competitive industry?
A. The market price will be lower than the marginal cost of production. B. The marginal cost will be higher than the average cost of production. C. The marginal cost of production will be equal to the market price. D. The market price will be higher than the marginal cost of production.