An extra dollar into the Social Security trust fund _____
a. increases the assets of the federal government by a dollar
b. decreases the assets of the federal government by a dollar
c. has no impact on the assets of the federal government
d. speeds up the time until insolvency of the trust fund
c
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You have 40,000 frequent flier miles. You could exchange your miles for a round trip ticket to Bermuda over spring break. Does that mean your flight to Bermuda would be free? Explain your reasoning
What will be an ideal response?
Game theory, which is used in studying oligopoly behavior, originated from the study of games such as the following, except
A. checkers. B. solitaire. C. chess. D. poker.
The reason that the local telephone company is able to engage in price discrimination between business and residential customers in providing local phone service is that:
A. it is the only provider of local (landline) telephone service. B. it must be extremely difficult, if not impossible, for one consumer to resell phone service to another. C. business and residential customers differ in their willingness to pay for phone service. D. All of these are correct.
Table 15.1Table 15.1 shows the preferred budget in millions for a new sports facility and the number of thousands of voters in a community who prefer that budget. Tom proposed a budget of $6 million while Mary proposed a budget of $3 million. Which of the two candidates will be elected if everyone votes?
A. Tom B. Mary C. It will be a tie. D. The outcome of the election cannot be predicted.