The U.S. Federal expenditures for "pensions and income security" is dominated by
A. unemployment benefits.
B. housing subsidies.
C. Social Security payments.
D. food stamps.
Answer: C
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Monopoly is a market structure in which:
a. there are significant barriers to the entry of new firms. b. the firms face a perfectly elastic demand curve. c. there are a large number of close substitutes for the good produced. d. a homogeneous product is sold. e. the firms are price takers.
When a firm or economy is operating efficiently, it is operating
a. outside its production possibilities frontier. b. inside its production possibilities frontier. c. on its production possibilities frontier. d. at the intersection of the production possibilities frontier and the vertical axis. e. at the intersection of the production possibilities frontier and the horizontal axis.
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y1. C. P3 and Y1. D. P3 and Y2.
Selection bias can distort the results of research studies.
Answer the following statement true (T) or false (F)