All of the following are programs in the Social Security system except
A. the Old Age and Survivors Insurance program.
B. the Temporary Assistance to Needy Families (TANF) program.
C. the Disability Insurance program.
D. the Medicare program.
Answer: B
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The above figure shows the market for game day t-shirts. If the price of t-shirts is $12, then
A) the market is in equilibrium. B) there is a surplus and the price of t-shirts will fall. C) there is a shortage and the price of t-shirts will fall. D) there is a shortage and the price of t-shirts will rise. E) there is a surplus and the price of t-shirts will rise.
A firm enters into a consent decree to avoid an even greater legal setback. If the terms of the consent decree effectively double the firm's fixed costs, then
a. marginal cost more than doubles b. marginal cost doubles c. marginal cost remains unchanged d. average total cost remains unchanged e. average variable cost doubles