At present, the Social Security System
A) takes in more revenue than it spends on benefits.
B) takes in less revenue than it spends on benefits.
C) equates the revenue that it receives and the amount it spends on benefits.
D) has no idea of just how much revenue it taking in.
A
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Refer to Figure 4.6, which shows David's and Celeste's individual supply curves for flower arrangements per week. Assuming David and Celeste are the only producers in the market, what is the market quantity supplied at a price of $30?
A) 200 B) 250 C) 300 D) 350
Sefronia and Bella share an apartment and they are deciding whether or not to purchase a weekly housecleaning service. The value of the service to each of them is $50 and it costs $80 to hire a housecleaner
Suppose Bella is lazy and a spendthrift and Sefronia suspects that Bella will be willing to pay $80. What is Sefronia likely to do, given that she is as rational as any other person? A) She might claim that she is not willing to pay for a housecleaner, hoping that Bella would pay the entire $80. B) She will correctly rationalize that Bella's laziness and spendthrift ways are irrelevant to the decision at hand. C) She will come clean and tell Bella that since Bella is lazy and a spendthrift she should pay a bigger share of the $80. D) She might offer to do Bella's housecleaning chores if Bella would pay her $50.
Which of the following is FALSE about firms organized along functional lines?
a. Workers develop functional expertise b. Workers can easily share information within their division c. They inhibit the exploitation of economies of scale d. None of the above
A country should export only those goods for which, relative to its trading partners, it has the
a. absolute advantage b. highest opportunity cost c. lowest production possibilities d. strongest demand e. lowest opportunity cost