A major concern with the Social Security trust fund is that:
A. Surpluses for Social Security are too large
B. The Federal government buys too many government securities
C. Costs for administering the fund are greater than the current revenue
D. The fund will exhausted in a couple of decades
D. The fund will exhausted in a couple of decades
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The above figure shows an individual's demand curve for time per month spent telecommunicating while driving (talking on the car phone.) A car phone is useless except for talking with somebody who is not in the car
If calls are priced at ten cents per minute, what is the consumer surplus derived from talking? What is the most this person would pay for the car phone? Explain.
The monopolistic competitor produces a ________ output than the perfect competitor, charges a ______ price, and in the long run, earns __________ profit.
Fill in the blank(s) with the appropriate word(s).
Even though the price of Charlie’s Pipe Tobacco increases by 10 percent, the demand remains the same. This example shows ______ demand.
a. elastic b. perfectly elastic c. inelastic d. perfectly inelastic
Which of the following represents the money multiplier?
A. 1 ÷ (required reserve ratio). B. (Total reserves - required reserves) × multiplier. C. Total reserves - required reserves. D. Required reserve ratio × total deposits.