Which of the following statements about the Social Security (OASDI) program is FALSE?
A) Benefits are paid to individuals who would be financially secure in their absence.
B) Benefits are based on need.
C) Benefits are an intergenerational transfer program from those who work to those who don't work.
D) When an insured worker dies, benefits continue for widows or other dependents.
B
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Refer to Figure 2-5. If the economy is currently producing at point W, what is the opportunity cost of moving to point Y?
A) 2 million tons of paper B) 14 million tons of steel C) 9 million tons of paper D) 2 million tons of steel
The presence of a learning curve may induce a decision maker in a startup firm to choose
A) low levels of output to exploit economies of scale. B) high levels of output to exploit economies of scale. C) low levels of output to shift the average cost curve down over time. D) high levels of output to shift the average cost curve down over time. E) to produce more than one output.