When the bond prices rise, interest rates fall.

Since Social Security is a pay-as-you-go program, the funds for the people retiring today

A) come from those of us working today and in the future. B) come from the Federal Reserve. C) come from import taxes. D) come from foreign sales of gold.

Suppose there are two perfectly competitive industries with similar numbers of firms but where one industry consists of N identical firms while the second consists of N firms with differing costs. Compared to the short-run supply curve of the industry with identical firms, the short-run supply curve of the differing cost industry will tend to be

A) steeper at higher prices. B) flatter at higher prices. C) steeper at lower prices. D) flatter at lower prices.