In the 1930s, the federal government established the social security system to provide a minimum level of income to elderly and disabled people. This primarily addressed the economic question of:
A) When will each good be produced?
B) For whom shall the goods be produced?
C) What goods and services should a society produce?
D) How should the resources be organized for production?
Ans: B) For whom shall the goods be produced?
Economics
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In which of the four market structures do sellers act as price takers?
A) Perfect competition B) Monopolistic competition C) Monopoly D) Oligopoly
Economics
If disposable income = $200 billion and the APS = 0.9, then
A) saving = $90 billion. B) saving = $45 billion. C) saving = $180 billion. D) saving cannot be determined.
Economics