A stock market
A. guarantees that a seller of a stock will get the price at which the stock was purchased.
B. is used only to sell new stock issues from corporations and not to transfer existing stocks.
C. is used only to sell stocks, not to buy stocks.
D. gives an individual a chance to invest in stocks without committing funds for long periods of time.
Answer: D
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The above figure shows the market for buckets of golf balls at the driving range. A new leisure time tax is placed on suppliers in this market, shifting the supply curve from S0 to S1. The total tax revenue is equal to
A) $1,800. B) $600. C) $1,200. D) $900. E) $5,600.
The pay-as-you-go system for the Social Security System entails. ________
A) a transfer of payments from those currently working to retirees B) taxing the import and export of goods and services into an out of the United States C) a number of current retirees that exceeds the number of employed individuals D) issuing additional government debt in the event of budget surplus