Consumer choice theory predicts that, with identical consumers, pay-as-you-go social security
A) always makes all generations worse off.
B) makes some generations better off, and cannot make any generation worse off.
C) may make some generations worse off and cannot make any generation better off.
D) may be Pareto improving.
D
Economics
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Refer to Table 9-12. If the actual terms of trade are 1 belt for 1.5 swords and 50 belts are traded, how many swords will Estonia gain compared to the "without trade" numbers?
A) 25 B) 75 C) 100 D) 125
Economics
An inflationary gap will occur when
a. real GDP exceeds nominal GDP. b. nominal GDP exceeds real GDP. c. real GDP exceeds potential GDP. d. potential GDP exceeds real GDP
Economics