Use the following formula to answer the indicated question: Benefit amount = Maximum award - 0.4 (Wages in excess of ceiling) Rafael is retired and earns $15,000 per year working part-time. He is entitled to a maximum Social Security retirement benefit of $14,000. Social Security regulations allow him to earn $10,000 and still get maximum benefits. Rafael's total income, including Social Security benefits, is

In the figure above, how can the economy represented by the production possibilities frontier move from point C to point F?

A) Increase the available amount of resources. B) Increase the level of technology. C) Redistribute the existing resources to produce more apples and fewer oranges. D) First move to point B and then move to point F.

One reason why airlines charge business travelers and leisure travelers different prices is

A) business travelers fly according to schedules that are planned months in advance. Many leisure travelers buy their tickets at the last minute. B) business travelers fly more often than most leisure travelers. As a result, their employers are able to bargain with airlines for lower fares than leisure travelers pay. C) business travelers often have inflexible schedules and have to travel on a particular day. The opposite is true for leisure travelers. D) business travelers usually travel alone. Leisure travelers often fly with friends and family members; therefore, they have a more inelastic demand for airline tickets than business travelers.