Public employees (more frequently than private employees) tend to have their retirements in
A. private savings plans.
B. defined contribution programs.
C. defined benefit pension programs.
D. Ponzi schemes.
Answer: C
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In long-run equilibrium, every perfectly competitive firm
a. maximizes its output b. chooses its plant size and output level to operate at minimum long-run marginal cost c. chooses its plant size and output level to operate at minimum long-run average total cost d. earns an economic profit e. suffers an economic loss
Pat earns $25,000 per year (after taxes), and Pat's spouse, Chris, earns $35,000 (after taxes). They have two pre-school-aged children. Childcare for their children costs $12,000 per year. Given that Chris doesn't want to stay home with the kids, regardless of what Pat does, Pat should stay home with the kids if, and only if, the value of Pat spending more time with the kids is greater than:
A. $12,000 per year. B. $37,000 per year. C. $13,000 per year. D. $25,000 per year.