Social Security wealth is the future value of the Social Security system.
A. True
B. False
C. Uncertain
B. False
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The above figure shows the U.S. market for replacement cell phone batteries. Area A + area E is the
A) consumer surplus when there is a tariff. B) producer surplus when there is a tariff. C) tariff revenue. D) increase in producer surplus due to the tariff. E) gain in total surplus due to the tariff.
The above figure shows the marginal benefits and marginal costs of a college education. If no subsidies are paid, colleges charge tuition of
A) $0. B) $5,000. C) $10,000. D) $15,000.
If the Fed sells securities worth $10 million to a commercial bank, the Fed's balance sheet will show
A) an increase in securities held of $10 million and an increase in bank reserves of $10 million. B) an increase in securities held of $10 million and a decrease in bank reserves of $10 million. C) a decrease in securities held of $10 million and an increase in bank reserves of $10 million. D) a decrease in securities held of $10 million and a decrease in bank reserves of $10 million.
The primary benefit that results when a nation employs its resources in accordance with the principle of comparative advantage is
a. an expansion in investment resulting from a reallocation of resources away from consumption. b. a larger output resulting from a more efficient use of resources. c. greater equality of income resulting from an increase in the number of workers. d. an increase in the profitability of business enterprises resulting from an increase in investment.