A representative unit by which utility is measured is
A. ordinal utility.
B. a util.
C. marginal utility.
D. utility.
Answer: B
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Social Security is
A) an insurance program operated by the federal government. B) a retirement program that invests the person's contributions into interest-earning financial assets so the proceeds can fund the person's retirement. C) a social insurance program that guarantees that an elderly person will never fall below the poverty level. D) an intergenerational transfer program that only vaguely relates to past earnings.
When the dollar appreciates against the euro, the euro has:
A. depreciated against the dollar. B. become more valuable relative to all other currencies. C. become less valuable relative to all other currencies. D. appreciated against the dollar.
Refer to the below graph. What will shift D2 to D1?
Use the following graph to answer question about the labor resource market faced by producers of good X:
A. A decrease in the price of a substitute input (if the output effect > substitution effect)
B. An increase in the price of a substitute input (if the substitution effect > output effect)
C. An increase in the price of a substitute input (if the output effect > substitution effect)
D. A decrease in the price of a complementary resource
Use the following statements to answer this question: I. Corporate paper rates are typically less than one percent higher than Treasury bill rates. II. Treasury bill rates may be viewed a short-term, risk-free rates
A) I and II are true. B) I is true and II is false C) II is true and I is false D) I and II are false