Since the Social Security system began in the 1930s, the number of workers per retiree
A) has stayed roughly the same.
B) has declined.
C) has risen.
D) declined through 1960 and has risen ever since.
B
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The ________ the portion of your income spent on a good, the ________ is your demand for the good
A) larger; more income elastic B) larger; more price elastic C) smaller; less price elastic D) smaller; more income elastic
The majority of small businesses
A) are privately owned. B) are managed by professional managers. C) raise funds in financial markets. D) are self-financing.
The price of a loaf of bread is $1.50, the price of a gallon of milk is $3.00, and the price of a pound of butter is $2.40
The price of a loaf of bread relative to a gallon of milk is ________, while the price of a gallon of milk relative to a pound of butter is ________. A) 0.5; 0.8. B) 0.5; 1.25. C) 2.0; 1.25. D) 2.0; 0.8.
To change the definition of demand to the definition of supply, all we would need to do is change the word _____ to _____.
Fill in the blank(s) with the appropriate word(s).