Which statement about the United States at present is false?
A. We have the world's largest economy.
B. The United States' federal deficits have been at record highs for the last few years.
C. The Social Security and Medicare trust funds are safe for at least the next two generations.
D. We are borrowing almost $2 billion a day from foreigners to finance the United States' trade and budget deficits
C. The Social Security and Medicare trust funds are safe for at least the next two generations.
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Following are the controversies over how poverty should be measured, except:
a. government transfers and other programs are not properly taken into account in the measures of poverty. b. the poverty measures do not distinguish among the needs of different individuals. c. the concept of poverty line does not draw any distinction between income and purchasing power. d. the concept of poverty line does not take into account the expenditure on food by each family. e. the income generated in the underground economy are not taken into account.
Average Total Cost is
A. the per unit cost of production. B. the per unit fixed cost of production. C. the per unit variable cost of production. D. the addition to cost associated with one additional unit of output.
In a market economy, people who control large amounts of capital ______.
a. have the ability to get more goods and services b. have reduced access to goods and services c. share goods and services equally with others d. are elected government officials
Given a cost function C(Q) = 200 + 14Q + 8Q2, what is the marginal cost function?
A. 14 + 16Q B. 200 + 8Q2 C. 14 + 16Q2 D. 14Q + 8Q2