The ratio of retirees to workers who make contributions to the Social Security system ________
A) has increased over the years
B) increased as a result of the baby boom following World War II, but has subsequently declined
C) has fallen with the decline in U.S. birth rates
D) determines the size of contributions to the system
A
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Refer to the table above. What is the total revenue when the monopolist charges a price of $6?
A) $1,550 B) $1,800 C) $2,150 D) $3,200
Suppose land suitable for wheat production is highly inelastic. An increase in the demand for wheat bread will most likely
a. cause the prices of bread and wheat to increase but not affect the incomes paid to owners of wheat-growing land. b. shift the demand curve for bread to the right and the supply curve for wheat to the left. c. raise the price of land suitable for wheat production. d. depress the incomes of owners of wheat growing land.