The long-run average cost curve is tangent to the minimum point of every short-run average total cost curve
a. True
b. False
B
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Social Security wealth is the future value of the Social Security system.
A. True B. False C. Uncertain
Briefly describe the three main social insurance programs (Social Security, Medicare, and unemployment insurance).
What will be an ideal response?
Judging from the table, which of the following groups is the largest?
a. discouraged workers
b. persons unemployed 15 weeks or longer
c. marginally attached workers
d. persons employed part time for economic reasons
Comparative advantage is
A. the ability to produce a good at a lower opportunity cost than other producers. B. the ability to produce more output of all goods than anyone else can. C. the ability to produce more output from given inputs than another producer can. D. the ability to produce all goods at lower costs than anyone else can.