A public teacher's pension is likely to be
A. whatever they saved for themselves because they are not eligible for a pension or for Social Security.
B. Social Security only.
C. defined contribution.
D. defined benefit.
Answer: D
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Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
The demand for computer chips is a downward sloping straight line. If there is an increase in the supply of computer chips, this change will
A) increase the price elasticity of demand for computer chips. B) decrease the price elasticity of demand for computer chips. C) have no effect on the price elasticity of demand for computer chips. D) have an unpredictable effect on the price elasticity of demand for computer chips.
As the aggregate demand curve shifts to the right, what happens to the price level and output? What do these changes imply happens to the inflation rate and the unemployment rate?
Full-cost transfer-pricing creates an incentive for:
A. distribution to be over-efficient. B. distribution to be inefficient. C. manufacturing to be less efficient. D. manufacturing to be over-efficient.